Table of Contents:
  • pt. 1. The facts of business cycles. Why study business cycles?
  • Describing business cycles
  • part 2. The macroeconomic theory of business cycles and forecasting. Early business cycle theories
  • Keynes and Keynesian theory
  • The Monetarist model
  • The Rational Expectations model
  • Real business cycle models
  • New Keynesian models
  • Macroeconomic forecasting
  • part 3. Business cycles in the United States. The Great Depression
  • Postwar business cycles in the United States
  • A "new economy" in the United States?
  • part 4. Modern international recessions and depressions. The East Asian crisis
  • Argentina and the role of the international monetary fund
  • The Great Recession in Japan
  • Conclusions : what we do and do not know about business cycles.