Business Cycles in International Historical Perspective / Susanto Basu, Alan M. Taylor.

Format:

Book

Author/Creator:

Basu, Susanto.

Contributor:

National Bureau of Economic Research.

Taylor, Alan M.

Series:

Working Paper Series (National Bureau of Economic Research) no. w7090.

NBER working paper series no. w7090

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 1999.

Summary:

This paper examines business cycles theoretically and empirically, with a quantitative study based on experience over the long run and in a cross section of countries. Several major questions in business cycle theory are explored. Theoretical concerns indicate that the properties of business cycle models depend not only on important structural aspects of the model such as money neutrality, labor market structure, and price adjustment, but also on the closure of the model in international markets. Econometric considerations suggest that more information about the country-specific versus universal features of cycles could be gleaned from the study of panel data. A review of business cycle properties in a sample of over a dozen countries is considered in light of these issues.

Notes:

Print version record

April 1999.