Real Business Cycle Models: Past, Present, and Future∗

Test of Real Business Cycle Theory in Iran's economy

This paper tests the importance of real shocks as sources of fluctuations in iran’s economy. For this purpose, based on the work of Boschen and Mills, a set of non-monetary variables which can affect economic growth have been selected and by using an illustrative business cycle model in which the production depends on the past and current value of real shocks, the influence 01’ these variables ...

Bank Lending Behaviour over the Business Cycle in Iran

This paper studies bank loans over the business cycles in Iran to determine the role of Iranian banks in stabilizing credit. By estimating the long-run relations using dynamic OLS and fully modified OLS estimators, the findings show that real bank lending is positively related to real GDP in the long-run providing evidences of the pro-cyclicality of bank lending in Iran. Hence, Iranian banking ...

Real-time Prediction and Synchronization of Business Process Instances using Data and Control Perspective

Nowadays, in a competitive and dynamic environment of businesses, organizations need to moni-tor, analyze and improve business processes with the use of Business Process Management Systems(BPMSs). Management, prediction and time control of events in BPMS is one of the major chal-lenges of this area of research that has attracted lots of researchers. In this paper, we present a...

Analysis of the Relationship between the Business Cycle and Inflation Gap in Time-Frequency Domain

Controlling the business cycle and minimizing the inflation gap are considered as two major goals for monetary policy. Hence, the policymaker will be able to make more decisive decisions with an awareness of the dynamic relationship and causal relationship between these two variables. Accordingly, the present study uses a discrete and continuous wavelet transform to provide a new understanding ...

Productivity and US macroeconomic performance: Interpreting the past and predicting the future with a two-sector real business cycle model