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A New Look at Some Old Endogeneous Cycle Theories

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Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 343)

Abstract

In chapter one we mentioned that there are two broad approaches to business cycle theory — the endogenous cycle theories and the exogenous shock theories. In this chapter we shall use the concepts and techniques of the previous chapter to place a class of endogenous cycle theories into a unified mathematical framework. In particular we shall be considering theories whose basis is in the dynamics of the real sector. This emphasis in no way indicates a belief that these theories are the unique or most satisfactory explanation of the business cycle. Our choice is dictated partly by the fact that these theories provide a well recognized body of economic knowledge which can benefit from a unified viewpoint and partly by the fact that they are still seen as the most representative of the endogenous cycle theories.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1990

Authors and Affiliations

  1. 1.School of Finance and EconomicsUniversity of Technology, SydneyAustralia

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