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Equilibrium Business Cycle Theory in Historical Perspective : Historical Perspectives on Modern Economics - Kim Kyun

Equilibrium Business Cycle Theory in Historical Perspective

Historical Perspectives on Modern Economics

By: Kim Kyun

Hardcover Published: 24th June 1988
ISBN: 9780521350785
Number Of Pages: 138

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This book presents a historical investigation of the theoretical development of contemporary Equilibrium Business Cycle Theory (EBCT). The author examines the central features of the EBCT by tracing both the history of business cycle theory and the history of econometrics. These historical analyses make clear two cental principles of the EBCT: its optimization foundation and its economic strategy. Following along these lines, the author argues that the EBCT succeeds the tradition of the Austrian cycle theory that attempted to incorporate the cycle with classical equilibrium doctrine. He further argues that the EBCT's econometric strategy is only a child of the Cowles commission method. Presenting a fresh viewpoint of interwar macroeconomics in very readable style, this book brings the period back into the heart of macroeconomic thinking today.

Acknowledgments
Introduction: equilibrium business cycle theory
The classical tradition and business cycle theory
The econometric approach to business cycles
Hayek, the Cowles Commission, and equilibrium business cycle theory
Contemporary trends in macroeconometrics
Conclusion
References
Index
Table of Contents provided by Publisher. All Rights Reserved.

ISBN: 9780521350785
ISBN-10: 0521350786
Series: Historical Perspectives on Modern Economics
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 138
Published: 24th June 1988
Publisher: Cambridge University Press
Country of Publication: GB
Dimensions (cm): 22.8 x 15.2  x 1.0
Weight (kg): 0.36

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