The new classical revolution seems to have transformed
macroeconomics into the theory of economic fluctuations. It is, in
a sense, a return to the origins of macroeconomics as a discipline
as fashioned by Hayek, Keynes and Lindahl. But the scope has
shifted in the intervening five decades and more. It is this new
scope - and the new tools that force its expansion - that are
surveyed and analysed in this volume. Foundations of deterministic
and random fluctuations, equilibrium and non-equilibrium
macroeconomics of cycles; economic historical and political bases
of crises; and the theoretical and descriptive statistics of time
series analysis - all these provide nettings for the study of
business cycles.
General
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