| Edition |
2nd ed. |
| Description |
xv, 280 p. : ill. ; 25 cm. |
| Bibliography |
Includes bibliographical references and index. |
| Contents |
The Facts of Business Cycles. Why study business cycles? -- Describing business cycles -- The Macroeconomic Theory of Business Cycles and Forecasting. Early business cycle theories -- Keynes's and Keynesian theory -- The monetarist model -- The rational expectations model -- Real business cycle models -- New Keynesian models -- Models of credit and financial instability -- Macroeconomic forecasting -- Business Cycles in the United States. The Great Depression -- Postwar business cycles in the United States -- Modern International Recessions and Depressions. The East Asian crisis and the IMF -- The great recession in Japan -- The 2007 global financial crisis -- What we know and do not know about business cycles. |
| Summary |
When it first appeared in 2004, the first edition of this title offered readers an expertly guided tour through fundamental business cycle theories and the latest research on pivotal market failures. In the aftermath of the events of the 2008 economic crisis, the author offers an extensively updated new edition. The second edition offers clear explanations of classical and Keynesian economic theory and how each has moved in and out of favor from the early 20th century to the present. It then provides detailed studies of major business cycle downturns in the United States, from the Great Depression and postwar recessions to the new economy of the 1990s, the 2001 recession, and in an all new chapter, the 2008 global financial crisis. The book also features an exhaustive update of statistical data, plus coverage of recent international crises in Argentina and Japan, and a new chapter on what we do and do not know about business cycles. |
| Subject |
Business cycles.
|
|
Economic forecasting.
|
|
Business cycles -- United States -- History.
|
|
Business cycles -- History -- 20th century.
|
| ISBN |
9780313381638 (hard copy : alk. paper) |
|
0313381631 |
|
