| Equilibrium Business Cycle Theory in Historical Perspective Contributor(s): Kyun, Kim (Author) |
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ISBN: 0521350786 ISBN-13: 9780521350785 Publisher: Cambridge University Press OUR PRICE: $71.24 Product Type: Hardcover - Other Formats Published: June 1988 |
| Additional Information |
| BISAC Categories: - Business & Economics | Economic History |
| Dewey: 338.542 |
| LCCN: 87032646 |
| Series: Historical Perspectives on Modern Economics |
| Physical Information: 0.6" H x 6.2" W x 9.1" (0.75 lbs) 138 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: This book presents a historical investigation of the theoretical development of contemporary Equilibrium Business Cycle Theory (EBCT). The author examines the central features of the EBCT by tracing both the history of business cycle theory and the history of econometrics. These historical analyses make clear two cental principles of the EBCT: its optimization foundation and its economic strategy. Following along these lines, the author argues that the EBCT succeeds the tradition of the Austrian cycle theory that attempted to incorporate the cycle with classical equilibrium doctrine. He further argues that the EBCT's econometric strategy is only a child of the Cowles commission method. Presenting a fresh viewpoint of interwar macroeconomics in very readable style, this book brings the period back into the heart of macroeconomic thinking today. |