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Fluctuations in Major Economic Variables

  • Günter Gabisch
  • Hans-Walter Lorenz
Part of the Universitext book series (UTX)

Abstract

Business cycle theory deals with approaches to describe and explain observable fluctuations in major economic variables like the national product, the employment rate, or the inflation rate. Its aim is to establish necessary and/or sufficient conditions for the existence of more or less regular oscillations in a model economy. As a theoretical model is always an abstract picture of real life, business cycle theory concentrates only on the modelling of common patterns of empirical fluctuations and attempts to isolate those essential ingredients in a model which are responsible for an oscillating behavior of a model’s variables.

Keywords

Production Function Business Cycle Potential Output Economic Indicator Capacity Utilization 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© Springer-Verlag Berlin Heidelberg 1989

Authors and Affiliations

  • Günter Gabisch
    • 1
  • Hans-Walter Lorenz
    • 1
  1. 1.Volkswirtschaftliches SeminarGeorg -August-Universität GöttingenGöttingenGermany

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