Business cycles: Theory, evidence and policy implications

Research output: Contribution to journalArticlepeer-review

7 Scopus citations


This paper looks at recent advances in the study of aggregate fluctuations. The emphasis is on three prominent areas of research: the stochastic growth model, economies which exhibit macroeconomic complementarities and models that emphasize heterogeneity. Each section of the paper outlines the theory, examines relevant empirical evidence and then discusses some policy implications of the analysis.

Original languageEnglish (US)
Pages (from-to)213-237
Number of pages25
JournalScandinavian Journal of Economics
Issue number1
StatePublished - Jan 1 1998

All Science Journal Classification (ASJC) codes

  • Economics and Econometrics


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