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The aim of this paper is to critically assess Austrian Business Cycle (ABC) theory. Its foundation was laid in Theory of Money and Credit (1912) by Ludwig von Mises, which F. A. Hayek elaborated in mo...
Paper deals with the analysis of investment in the business cycle. Analysis is based on available quarterly data for the Czech Republic since 1st quarter 1999 till 1st quarter 2014. It concludes that ...
We propose and implement a framework for characterizing and monitoring theglobal business cycle. Our framework utilizes high-frequency data, allows us to accountfor a potentially large amount of missi...
An Econometric Business Cycle Model with Rational Expectations: Policy Evaluation Results.
An Econometric Business Cycle Model with Rational Expectations: Some Estimation Results.
Many economists have recently proposed nominal GNP targetting as a new rule for monetary p0licy.l Nominal GNP targetting is typically viewed as an alternative to money-growth targetting. It prescrib...
This paper studies the business cycle dynamics of income and wealth distributions in the context of the neoclassical growth model where agents are heterogeneous in initial wealth and non-acquired skil...
Consumer theory suggests that expenditures on luxuries and dura-bles should be more cyclical than expenditures on necessities and nondurables. Estimating luxuriousness and durability for 57 con-sumer ...
We examine the cyclicality of budget items among provincial governments in seven federations, showing that own-source taxes are generally highly procyclical, and contrary to common wisdom, revenue ...
Migration matrices are considered a major determinant for credit risk management. They are widely used for credit value-at-risk determination, portfolio management or derivative pricing. It is well kn...
We measure the correlations between two cities’ real GDP growth rates (a measure of business cycle correlations) to capture the degree of segmentation across China’s provincial and regional borders.
Friedman’s plucking model of business fluctuations suggests that output cannot exceed an upper limit, or ceiling level, but it is occasionally plucked downward, with depth and steepness, due to recess...
This paper explores the implications of the political economy model of Battaglini and Coate (2008) for the behavior of fiscal policy over the business cycle. The model predicts that fisca...

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