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Business Cycle Models with Indeterminacy

  • Book
  • © 1998

Overview

Authors:
  1. Mark Weder

    1. Department of Economics, Humboldt-University Berlin, Berlin, Germany

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Part of the book series: Contributions to Economics (CE)

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Table of contents (6 chapters)

  1. Front Matter

    Pages I-X
    Download chapter PDF

  2. Introduction

    • Mark Weder
    Pages 1-44

  3. Indeterminacy, Business Cycles and Modest Increasing Returns to Scale

    • Mark Weder
    Pages 45-87

  4. Self-Fulfilling Prophecies and Business Cycles in a Two-Sector Stochastic Optimal Growth Model

    • Mark Weder
    Pages 89-124

  5. Animal Spirits, Technology Shocks and the Business Cycle

    • Mark Weder
    Pages 125-161

  6. Conclusion

    • Mark Weder
    Pages 163-165

  7. Bibliography

    • Mark Weder
    Pages 167-179
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Keywords

About this book

Three original models which explain business cycles as a result of self-fulfilling expectations are presented. The models are founded on the structure of dynamic general equilibrium theory. Market power and increasing returns to scale are introduced which allow indeterminancy of the Rational Expectations equilibria to be obtained. Unlike the majority of existing literature on this subject, the departures from perfect markets and constant returns presented in these models are very low and, more importantly, at a realistic level to achieve the respective results. It is demonstrated in all of the presented models that stylized facts of the business cycle can be reproduced.

Authors and Affiliations

  • Department of Economics, Humboldt-University Berlin, Berlin, Germany

    Mark Weder

Bibliographic Information

  • Book Title: Business Cycle Models with Indeterminacy

  • Authors: Mark Weder

  • Series Title: Contributions to Economics

  • DOI: https://doi.org/10.1007/978-3-642-47018-9

  • Publisher: Physica Heidelberg

  • eBook Packages: Springer Book Archive

  • Copyright Information: Physica-Verlag Heidelberg 1998

  • Softcover ISBN: 978-3-7908-1078-3Published: 19 January 1998

  • eBook ISBN: 978-3-642-47018-9Published: 06 December 2012

  • Series ISSN: 1431-1933

  • Series E-ISSN: 2197-7178

  • Edition Number: 1

  • Number of Pages: X, 179

  • Topics: Economic Theory/Quantitative Economics/Mathematical Methods

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