{"product_id":"the-macrodynamics-of-business-cycles-a-comparative-evaluation-paperback-softback-9781557863805","title":"The Macrodynamics of Business Cycles; A Comparative Evaluation (Paperback \/ softback) 9781557863805","description":"\u003cfont face=\"Georgia\"\u003e\r\n\u003cp\u003e\u003cfont size=\"6\"\u003eThe Macrodynamics of Business Cycles\u003c\/font\u003e\u003cbr\u003e\r\n\u003cfont size=\"5\"\u003eA Comparative Evaluation\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\u003cp\u003e\u003cfont size=\"4\"\u003eMohammed H. I. Dore (Author)\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e9781557863805, Wiley\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003ePaperback \/ softback, published 4 March 1993\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e256 pages\u003cbr\u003e25 x 20 x 1.5 cm, 0.68 kg\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\r\n\r\n\r\n\u003cp align=\"justify\"\u003e\u003cstrong\u003e\u003cfont size=\"3\"\u003eThis book is a comparative evaluation of the main theories of business cycles. The book begins with a brief statistical description of US business cycles and proposes criteria, in Part One, for the evaluation of the theories based on the observed empirical regularities. Part Two is a full exposition of the new Classical theories of business cycles, the Lucas monetary misperceptions approach, as well as the so-called \"real\" business cycle approach based on outside shocks to the economy. This is followed by a detailed treatment of the \"new\" Keynesian business theory based on price rigidities and market imperfections. Part Three begins with an introductory chapter on concepts of nonlinear dynamics used in the rest of the book. This is followed by theories that explain the business cycle as a feature inherent to free enterprise economies. Three models are considered: the Kaldor model, the non-Walrasian Benassy model and the Goodwin model of integrated growth and cycle. The criteria developed earlier are used to assess the explanatory power of each theory. However each model is explained before it is formulated rigorously. The treatment is fully self-contained, with all intermediate steps in the argument, so that the book is made accessible to undergraduates. It should be of interest to graduate students and advanced undergraduate students in economics.\u003c\/font\u003e\u003c\/strong\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003e\u003cp\u003ePreface ix\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart I\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e1 Introduction to business cycles 3\u003c\/p\u003e \u003cp\u003e2 Stylized facts of business cycles 12\u003c\/p\u003e \u003cp\u003e3 The validity of mathematical models in economics 30\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart II\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e4 The lead from Friedman 47\u003c\/p\u003e \u003cp\u003e5 Business cycles with misperceptions 59\u003c\/p\u003e \u003cp\u003e6 Tobin, Okun and the rise of real business cycle theory 76\u003c\/p\u003e \u003cp\u003e7 New Keynesian business cycle theory 98\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart III\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003e8 Introduction to self-sustained cycles 139\u003c\/p\u003e \u003cp\u003e9 The Kaldor model 152\u003c\/p\u003e \u003cp\u003e10 The Benassy model 166\u003c\/p\u003e \u003cp\u003e11 The Goodwin growth cycle model 189\u003c\/p\u003e \u003cp\u003e12 General conclusions 212\u003c\/p\u003e \u003cp\u003eReferences 219\u003c\/p\u003e \u003cp\u003eIndex of subjects 232\u003c\/p\u003e \u003cp\u003eIndex of names 240\u003c\/p\u003e\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\u003cp\u003e\u003cfont size=\"3\"\u003eSubject Areas: Economics [\u003ca title=\"See our other books on Economics\" href=\"https:\/\/freshlyprintedbooks.co.uk\/search?q=%22Economics%20%5BKC%5D%22\"\u003eKC\u003c\/a\u003e]\u003c\/font\u003e\u003c\/p\u003e\r\n\r\n\r\n\u003c\/font\u003e","brand":"Wiley-Blackwell","offers":[{"title":"Brand New","offer_id":52441821675800,"sku":"9781557863805","price":48.39,"currency_code":"GBP","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0730\/2037\/5320\/files\/9781557863805.jpg?v=1785027677","url":"https:\/\/freshlyprintedbooks.co.uk\/products\/the-macrodynamics-of-business-cycles-a-comparative-evaluation-paperback-softback-9781557863805","provider":"Freshly Printed Books","version":"1.0","type":"link"}