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Fiscal Policy over the Real Business Cycle: A Positive Theory
fi scal policy business cycle budget
2014/3/12
This paper explores the implications of the political economy model of Battaglini and Coate (2008)
for the behavior of fiscal policy over the business cycle. The model predicts that fisca...
A Spectral Analysis of Business Cycle Patterns in UK Sectoral Output
Spectral Analysis Business Cycle Patterns UK Sectoral Output
2010/10/18
This paper studies business cycle patterns in UK sectoral output. It analyzes the distinction between white noise processes and their non-white noise counterparts in the frequency domain and further e...
Tyler Cowen on Austrian Business Cycle Theory: A Critique
Austrian Business Cycle Theory: Critique
2009/7/23
Cowen (1997) criticizes Austrian Business Cycle Theory (ABCT) on eight
grounds: 1. systematic errors; 2. inflation volatility; 3. confusion of inflation and savings;
4. confusion of inflation and in...
Business Cycle and Conserved Quantity in Economics
Business Cycle Conserved Quantity Economics
2010/12/17
We propose a dynamical model for business cycle based on an optimal DI model. In the model there exists a conserved quantity, which corresponds to the total energy in a dynamical system. We found that...
Deflationary Expansion: an Overshooting Perspective to the Recent Business Cycle in China
UNDERSTANDING CHANGES IN INTERNATIONAL BUSINESS CYCLE DYNAMICS
CHANGES INTERNATIONAL BUSINESS CYCLE DYNAMICS
2014/3/18
The volatility of economic activity in most G7 economies has moderated over the past 40 years. Also, despite large increases in trade and openness, G7 business cycles have not become ...
Political Competition and Convergence to Fundamentals: With Application to the Political Business Cycle and the Size of the Public Sector
public expenditure size of government long run versus short run opportunism, partisanship political competition cointegration.
2014/6/26
We address the problem of how to investigate whether economics, or politics, or both, matter in the explanation of public policy. We first pose the problem in a particular context by uncovering a pol...
MONEY, PRICES, INTEREST RATES AND THE BUSINESS CYCLE
MONEY PRICES INTEREST RATES THE BUSINESS CYCLE
2014/3/18
he mechanisms governing the relationship of money, prices and interest rates to the business cycle are the most studied and most disputed topics in macroeconomics. In this paper, ...
Business-Cycle Durations and Postwar Stabilization of the U.S. Economy
Business-Cycle Durations Postwar Stabilization the U.S. Economy
2014/3/18
Average postwar expansions are twice as long as prewar expansions, and contractions are one-half as long. This paper investigates three possible explana-tions. The first explanat...