Business Cycles: Theory, Evidence and Implications
Working Paper 5994
DOI 10.3386/w5994
Issue Date
This paper looks at recent advances in the study of aggregate fluctuations. Our emphasis is on three prominent areas of research: the stochastic growth model, economies which exhibit macroeconomic complementarities and models that emphasize heterogeneity. Each section of the paper outlines the theory, discusses relevant empirical evidence and then discusses some implications of the analysis.
Published Versions
Russell W. Cooper, 1998. "Business Cycles: Theory, Evidence and Policy Implications," Scandinavian Journal of Economics, vol 100(1), pages 213-237.