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The Macrodynamics of Business Cycles: A Comparative Evaluation by Mohammed H. I. Dore

The Macrodynamics of Business Cycles: A Comparative Evaluation

by Mohammed H. I. Dore
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Book cover type: Paperback
  • ISBN13: 9781557863805
  • Binding: Paperback
  • Subject: N/A
  • Publisher: John Wiley & Sons Inc
  • Publisher Imprint: John Wiley and Sons Ltd
  • Publication Date:
  • Pages: 256
  • Original Price: USD 74.95
  • Language: English
  • Edition: N/A
  • Item Weight: 680 grams
  • BISAC Subject(s): Development / Economic Development

This book is a comparative evaluation of the main theories of business cycles. The book begins with a brief statistical description of US business cycles and proposes criteria, in Part One, for the evaluation of the theories based on the observed empirical regularities. Part Two is a full exposition of the new Classical theories of business cycles, the Lucas monetary misperceptions approach, as well as the so-called real business cycle approach based on outside shocks to the economy. This is followed by a detailed treatment of the new Keynesian business theory based on price rigidities and market imperfections. Part Three begins with an introductory chapter on concepts of nonlinear dynamics used in the rest of the book. This is followed by theories that explain the business cycle as a feature inherent to free enterprise economies. Three models are considered: the Kaldor model, the non-Walrasian Benassy model and the Goodwin model of integrated growth and cycle.

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