Konjunkturtheorie heute: Ein Überblick
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Konjunkturtheorie heute: Ein Überblick
Journal of Contextual Economics – Schmollers Jahrbuch, Vol. 109 (1989), Iss. 2 : pp. 173–231
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Kromphardt, Jürgen
Cited By
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Begründung der monetaristischen Geldmengenregel mit Hilfe einer Formalisierung des Konjunkturmodells von Milton Friedman
Patzig, Wolfgang
Credit and Capital Markets – Kredit und Kapital, Vol. 30 (1997), Iss. 1 P.81
https://doi.org/10.3790/ccm.30.1.81 [Citations: 0]
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Abstract
The present contribution presents a survey of approaches which are relevant today for the analysis of business cycles, that is the explanation and forecast of fluctuations (of several years) in economic activity. These approaches are categorized - according to a criterion which is central in actual macroeconomic theory - into models with quantity rationing and models based on market clearing prices. In the first group not only business cycle models developed on the basis of the “New Keynesian Macroeconomic Theory” are considered, but also traditional keynesian explanations which are not any more discussed within new theoretical models, but within the continuous reconstruction and elaboration of econometric business cycle models. The models of the second group characterized by market clearing prices, start from monetarist business cycle models; the main emphasis is put on models of the „New Classical Macroeconomics“ including the Real Business Cycle Approach. Furthermore, explanations of business cycles as a succession of “sunspot”-equilibria or by non-linear models are taken into consideration