Titlebook: Business Cycle Theory; A Survey of Methods Günter Gabisch,Hans-Walter Lorenz Textbook 1989Latest edition Springer-Verlag Berlin Heidelberg

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Fluctuations in Major Economic Variables,llations in a model economy. As a theoretical model is always an abstract picture of real life, business cycle theory concentrates only on the modelling of common patterns of empirical fluctuations and attempts to isolate those essential ingredients in a model which are responsible for an oscillating behavior of a model’s variables.

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Shock-Dependent Business Cycle Theories,n itself by the model. Although most of the models in this chapter are able to display steady and explosive oscillations as well, economic reasoning restricts their valid parameter regimes and only damped oscillations around stable equilibria are allowed. In order to exhibit permanent fluctuations t

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0172-5939 lerator models whose dependence on particular parameter values (in order to exhibit oscillatory motion) suggested a rather improbable occurrence of persistent f978-3-540-51059-8978-3-642-74715-1Series ISSN 0172-5939 Series E-ISSN 2191-6675