Advanced Search
MyIDEAS: Login to save this paper or follow this series

Hultgren's Cyclical Microdiversity Patterns: A Neglected Class of Microfoundation-Stylized-Facts of the Business Cycle

Contents:

Author Info

  • Frank Schohl
Registered author(s):

    Abstract

    The greatest empirical research project into the shape of the business cycle which has ever been made, was conducted in America at the "National Bureau of Economic Research" between 1920 and the 1950s under the guidance of Wesley Mitchell and Arthur Burns. Thor Hultgren was one of the members of Mitchell's and Burns' research team. In 1950, he applied the diffusion index, which had been used by Burns and Mitchell for the analysis of aggregate industry data, to the profits of individual corporations. His finding was that there is always a large share of corporations the profits of which move counter to the macroeconomic business cycle. Hultgren's work was ignored by his contemporaries and has never been cited, because business cycle theory was conducted only in macroeconomic aggregative terms. From the modern perspective of the microfoundation of business cycle theory in terms of heterogeneous agent models Hultgren's discovery is remarkable and important, because it provides empirical evidence of cyclical varieties which does not exist in modern literature. The paper applies his method to a German firm panel. It is argued that the evidence provided by the "Hultgren Index" should be put on the modern lists of stylized business cycle facts.

    Download Info

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below under "Related research" whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Bibliographic Info

    Paper provided by Friedrich-Schiller-Universität Jena, Wirtschaftswissenschaftliche Fakultïät in its series Working Paper Series B with number 1998-16.

    as in new window
    Length:
    Date of creation: 01 Dec 1998
    Date of revision:
    Availability: out of print
    Handle: RePEc:jen:jenavo:1998-16

    Contact details of provider:
    Postal: Carl-Zeiss-Strasse 3, 07743 JENA
    Phone: +049 3641/ 9 43000
    Fax: +049 3641/ 9 43000
    Web page: http://www.wiwi.uni-jena.de/
    More information through EDIRC

    Order Information:
    Postal: If a paper is not downloadable, please contact the author(s) or the library of University of Jena, not the archive maintainer.

    Related research

    Keywords:

    Find related papers by JEL classification:

    References

    No references listed on IDEAS
    You can help add them by filling out this form.

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:jen:jenavo:1998-16. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: ().

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.