{"product_id":"business-cycles-and-equilibrium-9780470499177","title":"Business Cycles and Equilibrium","description":"\u003cp\u003e • Author(s): Fischer Black\u003cbr\u003e • Publisher: Wiley\u003cbr\u003e • Publisher Imprint: Wiley\u003cbr\u003e • BISAC: Economics - Microeconomics\u003c\/p\u003e\u003cp\u003e\u003c\/p\u003e\u003cp\u003e\u003cb\u003eFrom the Inside Flap\u003c\/b\u003e\u003cbr\u003e\u003c\/p\u003e\u003cp\u003eThroughout his career, Fischer Black described a view of business fluctuations based on the idea that a well-developed economy will be continually in equilibrium. In the essays that constitute this book, which is one of only two books Black ever wrote, he explores this idea thoroughly and reaches some surprising conclusions. \u003c\/p\u003e\u003cp\u003eWith the newfound popularity of quantitative finance and risk management, the work of Fischer Black has garnered much attention. Even today, Black's \u003ci\u003eBusiness Cycles and Equilibrium\u003c\/i\u003e--which lays out his theory that economic and financial markets are in a continual equilibrium--still challenges our thinking, especially during our current economic crisis. \u003c\/p\u003e\u003cp\u003eThis \u003ci\u003eUpdated Edition\u003c\/i\u003e clearly presents Black's classic theory on business cycles and the concept of equilibrium, and contains a new Foreword by the person who knows Black best: Perry Mehrling, author of \u003ci\u003eFischer Black and the Revolutionary Idea of Finance.\u003c\/i\u003e Mehrling places Black's book in the context of his own intellectual trajectory, shows how to read it as a challenge to the macroeconomic orthodoxy of his day, and suggests how Black might have used his theory to make sense of today's financial and economic meltdown. \u003c\/p\u003e\u003cp\u003eFilled with the practical perspectives of one of the most innovative minds in finance, the \u003ci\u003eUpdated Edition\u003c\/i\u003e of \u003ci\u003eBusiness Cycles and Equilibrium: \u003c\/i\u003e \u003c\/p\u003e\u003cul\u003e \u003cli\u003eContains Fischer's original essays, which reach some interesting conclusions concerning the role of equilibrium in a developed economy\u003c\/li\u003e \u003cli\u003eWarns about the use and abuse of modeling\u003c\/li\u003e \u003cli\u003eExplains the risky business of risk in a straightforward and accessible style\u003c\/li\u003e \u003cli\u003eIncludes discussions dedicated to \"the effects of uncontrolled banking,\" \"the trouble with econometric models,\" and \"the effects of noise on investing\"\u003c\/li\u003e \u003cli\u003eProvides enlightening commentary on Black's life and work at the time \u003ci\u003eBusiness Cycles and Equilibrium\u003c\/i\u003e was written\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eEngaging and informative, the \u003ci\u003eUpdated Edition\u003c\/i\u003e of \u003ci\u003eBusiness Cycles and Equilibrium\u003c\/i\u003e will give you a better understanding of what's really going on during these uncertain and volatile financial times.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Hardcover","offer_id":45113554632855,"sku":"9780470499177","price":3462.0,"currency_code":"INR","in_stock":true}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/0666\/3471\/1191\/files\/9780470499177.webp?v=1767268627","url":"https:\/\/atlanticbooks.com\/products\/business-cycles-and-equilibrium-9780470499177","provider":"Atlantic Books","version":"1.0","type":"link"}