scholarly journals Shrinking Money and Monetary Business Cycles

1997 ◽  
Author(s):  
Harold L. Cole ◽  
Lee E. Ohanian
Keyword(s):  
Business Cycles ◽  
Monetary Business Cycles

Albert Aftalion's Macrodynamic Theory of Endogenous Business Cycles

1997 ◽  
Vol 19 (1) ◽  
pp. 71-92 ◽  
Author(s):  
Cecile Dangel ◽  
Alain Raybaut
Keyword(s):  
Business Cycles ◽  
Scientific Community ◽  
Aggregate Demand ◽  
Cyclical Fluctuations ◽  
Endogenous Business Cycles ◽  
Careful Specification ◽  
The Law ◽  
The Business Cycle ◽  
Monetary Business Cycles ◽  
Desperate Attempt

Albert Aftalion is certainly one of the best known French economists of the first half of the twentieth century. The influence he exerted during his lifetime over the scientific community of his homeland was considerable, and he was promptly acknowledged abroad to be one of the leading theorists of the business cycle. While he is best known as one of the inventors of the acceleration principle (Haberler 1937), we will focus on Aftalion's endogenous explanation of non-monetary business cycles and, more specifically, on the theoretical framework supporting Les crises périodiques de surproduction. Though this work can be seen as a mere “(desperate) attempt” to reconcile the law of markets with general overproduction (Abraham-Frois 1987), we argue instead that Aftalion's failure to construct an equilibrium theory of aggregate overproduction can be traced back to his inadequate treatment of aggregate demand. According to him, long roundabout processes are what generate cyclical fluctuations within a setting in which commodities produced and brought to the market always find an outlet. In other words, the law of markets implies market clearing where declines in prices instead of involuntary stock-building occur in the event of a crisis. How demand behaves in such a setting requires careful specification, which is precisely what is lacking in Aftalion's model.

Peculiarities of Modern Dynamics of the Global Economy

2010 ◽  
pp. 78-92 ◽  
Author(s):  
V. Klinov
Keyword(s):  
Economic Growth ◽  
Economic Development ◽  
Business Cycles ◽  
Global Economy ◽  
Long Waves ◽  
Rapid Expansion ◽  
Business Taxation ◽  
Modern World ◽  
China And India ◽  
World Economic

Rates and factors of modern world economic growth and the consequences of rapid expansion of the economies of China and India are analyzed in the article. Modification of business cycles and long waves of economic development are evaluated. The need of reforming business taxation is demonstrated.

Institutions as the Ordering Factor and as the Destabilizing Force: New Institutional and Post Keynesian Perspectives

2006 ◽  
pp. 102-118 ◽  
Author(s):  
A. Skorobogatov
Keyword(s):  
Economic Policy ◽  
Business Cycles ◽  
Institutional Theory ◽  
Institutional Environment ◽  
Institutional Arrangements ◽  
Economic Stability ◽  
Forward Contracts

The paper is dedicated to the New Institutional and Post Keynesian perspectives on institutions and their relation to economic stability. Embeddedness, institutional environment, and institutional arrangements are considered. Within these institutions conventional expectations, the economic policy and forward contracts are analyzed. Upon these perspectives the author shows a contradictory relation between institutions and the order and develops an institutional theory of business cycles.

Adverse Selection, Lemon Shocks and Business Cycles

2019 ◽  
Vol 2019 (361) ◽  
Author(s):  
Daisuke Ikeda ◽  
Keyword(s):  
Business Cycles ◽  
Adverse Selection

News-Driven Business Cycles: Insights and Challenges

CFA Digest ◽  
2015 ◽  
Vol 45 (5) ◽  
Author(s):  
Rich Wiggins
Keyword(s):  
Business Cycles

Security Prices and Business Cycles

1955 ◽  
Vol 11 (1) ◽  
pp. 79-86 ◽  
Author(s):  
Edmund A. Mennis
Keyword(s):  
Business Cycles ◽  
Security Prices
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