Business Cycles: Theory, Evidence and Implications
This paper looks at recent advances in the study of aggregate fluctuations. Our emphasis is on three prominent areas of research: the stochastic growth model, economies which exhibit macroeconomic complementarities and models that emphasize heterogeneity. Each section of the paper outlines the theory, discusses relevant empirical evidence and then discusses some implications of the analysis.
|Date of creation:||Apr 1997|
|Date of revision:|
|Publication status:||published as Russell W. Cooper, 1998. "Business Cycles: Theory, Evidence and Policy Implications," Scandinavian Journal of Economics, vol 100(1), pages 213-237.|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
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- Russell Cooper & Joao Ejarque, 1995. "Financial Intermediation and The Great Depression: A Multiple Equilibrium Interpretation," NBER Working Papers 5130, National Bureau of Economic Research, Inc.
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