Modern Business Cycle Analysis

A Perspective on Modern Business Cycle Theory

T he global financial crisis and recession that started in 2007 with the surge of defaults of U.S. subprime mortgages is having a large impact on recent macroeconomic research. The framework of modern macroeconomics that has replaced traditional Keynesian economics since the 1970s has been widely criticized. Many of the criticisms have focused on the assumptions of the representative agent and ...

decomposition and analysis of business cycle in iran (wavelet analysis)

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Modern Business Cycle Analysis: A Guide to the Prescott-Summers Debate

Business Cycle Features In The Iranian Economy

Dating Business Cycle in Oil Exporting Countries

In this paper, we empirically investigate the relationship between oil price changes and output in a group of oil exporting countries. The dynamics of business cycles in Libya, Saudi Arabia, Nigeria, Kuwait, Venezuela and Qatar are modeled by alternative regime switching models. We show that the extension of uni-variate Markov Switching model in order to include oil revenue improves dating busi...