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A Survey on Business Cycles: History, Theory and Empirical Findings

In: Consequences of Social Transformation for Economic Theory

Author

Listed:
  • Giuseppe Orlando

    (HSE University
    University of Bari)

  • Mario Sportelli

    (University of Bari)

Abstract

This work summarizes recent advances in modelling and econometrics for alternative directions in macroeconomics and cycle theories. Starting from the definition of a cycle and continuing with a historical overview, some basic nonlinear models of the business cycle are introduced. Furthermore, some dynamic stochastic models of general equilibrium (DSGE) and autoregressive models are considered. Advances are then provided in recent applications to economics such as recurrence quantification analysis and numerical tools borrowed from other scientific fields such as physics and engineering. The aim is to embolden interdisciplinary research in the direction of the study of business cycles and related control techniques to broaden the tools available to policymakers.

Suggested Citation

  • Giuseppe Orlando & Mario Sportelli, 2023. "A Survey on Business Cycles: History, Theory and Empirical Findings," Springer Proceedings in Business and Economics, in: Vikas Kumar & Evgeny Kuzmin & Wei-Bin Zhang & Yuliya Lavrikova (ed.), Consequences of Social Transformation for Economic Theory, pages 5-34, Springer.
    • Handle: RePEc:spr:prbchp:978-3-031-27785-6_2
    DOI: 10.1007/978-3-031-27785-6_2
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    More about this item

    Keywords

    Business cycles; Nonlinearities in economics; DSGE models; RQA;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • E37 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Forecasting and Simulation: Models and Applications

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