Business Cycle Theory / Edition 1

by Lutz G. Arnold

Overview

Business cycle theory is a broad and disparate field. Different schools of thought offer alternative explanations for cycles, often using different mathematical methods. This book provides a compact exposition of the main theories since Keynes—Keynesian economics, monetorism, new classical economics, the real business cycles theory, and new Keynesian economics—using a unified mathematical approach.

Product Details

ISBN-13:	9780199256822
Publisher:	Oxford University Press, USA
Publication date:	08/28/2002
Edition description:	New Edition
Pages:	176
Product dimensions:	9.10(w) x 6.10(h) x 0.50(d)

About the Author

Lutz G. Arnold has been Professor of Economics at the University of Regensburg since May 2001, at which time he was the youngest professor of economics in Germany. He received his Ph.D. from the University of Dortmund and was awarded the EEA Young Economist Award 2000 for his work on growth and international trade. His current research focuses upon growth, business cycles, international trade, and financial markets.

Table of Contents

1. Introduction
2. Keynesian Economics
3. Monetarism
4. New Classical Economics
5. Real Business Cycle
6. New Keynesian Economics
7. Lessons About Business Cycles
Appendix 1. Stochastic Second-Order Difference Equations
Appendix 2. The Over-Investment Theory
Appendix 3. Goodwinian Model