Measuring and Interpreting Business Cycles (Hardcover)

Villy Bergstrom

ISBN 10: 019828859X / ISBN 13: 9780198288596

Published by Oxford University Press, Oxford, 1994

About this Item

Hardcover. This book consists of three long papers, accompanied by a series of short comments (by Klaus Nesser, Erling Steigum, Danny Quah, Michael Bergman, and Seppo Honkapohja) and an introduction by the editors covering the main themes of the book. It combines a systematic empirical investigation into the characteristics of business cycles with a review of general theories of the patterns and dynamics of cycles.Thefirst paper, by John Hassler, Torsten Persson, and Paul Soderlind, investigates the patterns over time of business cycles, using data from the remarkable Swedish series dating from 1860 to the present day, and will become a standardreference in the literature on empirical investigations of business cycles. The authors find that there are strong similarities between the patterns of the business cycles of many countries.The second paper, by Peter Englund, Anders Vredin, and Anders Warne, analyses the dynamics of business cycles, and uses applied econometric analysis to identify different types of exogenous macroeconomic shocks, again using the Swedish data. Theauthors conclude that both permanent and transitory real shocks have lasting effects on patterns of economic growth.The third paper, by Jean-Michel Grandmont, has a different emphasis and reviews the theory ofendogenous shocks. In this complex and distinguished paper he argues that agents may have self-fulfilling expectations of fluctuations in business activity. A systematic empirical investigation into the characteristics of business cycles combined with a review of general theories of their patterns and dynamics. The authors have applied findings from the available Swedish data, and one theoretical paper, accompanied by shorter comments and a coherently argued introduction by the distinguished editors. This item is printed on demand. Shipping may be from our UK warehouse or from our Australian or US warehouses, depending on stock availability.

Seller Inventory # 9780198288596

Bibliographic Details

• Title: Measuring and Interpreting Business Cycles (Hardcover)
• Publisher: Oxford University Press, Oxford
• Publication Date: 1994
• Language: English
• ISBN 10: 019828859X
• ISBN 13: 9780198288596
• Binding: Hardcover
• Condition: new

About this title

Synopsis

This groundbreaking contribution to the business cycle literature combines a systematic empirical investigation into the characteristics of business cycles with a review of general theories of their patterns and dynamics. The contributors have provided two studies based on the remarkable series of Swedish data available, and a theoretical paper on endogenous shocks.

About the Author

Villy Bergstrom is a Director, FIEF (Swedish Trade Union Institute for Economic Research). Anders Vredin is a Professor at the Stockholm School of Economics.