| Is the Economic Cycle Still Alive?: Theory, Evidence and Policies 1994 Edition Contributor(s): Annunziato, Paolo (Editor), Baldassarri, Mario (Editor) |
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ISBN: 0312103808 ISBN-13: 9780312103804 Publisher: Palgrave MacMillan OUR PRICE: $161.49 Product Type: Hardcover - Other Formats Published: February 1994 Annotation: Interest in the analysis and measurement of economic fluctuations would appear to have its own cyclical trend, being strong and common during and after periods of considerable instability but more neglected during periods of continuous growth. Similarly, in the evolution of economic theory, periods of intense research into the origins of the cycle have alternated with periods of great confidence in the ability of economic policy to reduce economic instability. In particular, during the 1960s and the early 1970s, the fiscal authorities of almost all the industrialised countries and international economic institutes were busily engaged in 'fine tuning' the economy, in accordance with the dictates of Keynesian economics. We are now living what can only be another period of disillusion in the ability of economic policy, be it monetary or fiscal, to stabilise the economy. This is proven by the onset of severe recessions in various parts of the world during the first half of the 1980s and the inability to invert the negative phase of the business cycle under way in the various industrial countries in the early 1990s. As a consequence of the failure of old solutions there is a need for the detailed research into the causes of economic fluctuations and their measurement presented in this collection of papers. The first section of the volume deals with recent developments in contemporary empirical macroeconomics and debates the causes of the high degree of serial correlation in economic time series. The second section concentrates on methods for measuring the business cycle for forecasting purposes. The volume closes by surveying the main problems of the business-cycle analysis in a paperdealing with the 'cycle' of the business-cycle theory, that is to say the fortune and misfortunes this approach has encountered over the years. |
| Additional Information |
| BISAC Categories: - Business & Economics | Economics - Microeconomics - Business & Economics | Economics - Theory - Business & Economics | Money & Monetary Policy |
| Dewey: 330.1 |
| LCCN: 93021104 |
| Series: Central Issues in Contemporary Economic Theory and Policy |
| Physical Information: 1.18" H x 6.34" W x 9.48" (1.28 lbs) 301 pages |
| Descriptions, Reviews, Etc. |
| Publisher Description: We are now living in a period of disillusion in the ability of economic policy to stabilise the economy. This is proven by the onset of severe world recession in the early 1980s and the inability to invert the negative phase of the business cycle under way in the industrialized countries in the early 1990s. The failure of old policies motivates the research into the causes of economic fluctuations and their measurement whose results are published in this volume |