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Recessions and depressions : understanding business cycles / Todd A. Knoop
Bib ID 3301355
Format BookBook
Author
Knoop, Todd A
 
Description Westport, Conn. : Praeger, c2004 
xv, 289 p. ; 25 cm. 
ISBN 0275981622
Summary

"In Recessions and Depressions Todd Knoop traces the evolution of business cycle theory, from the "classical" model, which preceded the Great Depression, through the ground-breaking ideas of John Maynard Keynes, Milton Friedman, and their followers. He examines the strengths and limitations of each approach, in terms of explaining the impact of such factors as government policy, money supply, labor productivity, and wages. In the process, he presents an accessible introduction to what makes the economy tick, and offers new insights into understanding such historic events as the Great Depression, as well as more recent ones, such as the Asian meltdown in the 1990s, the financial crises in Latin America, and the U.S. recession of 2001, from which we are still recovering.

Knoop reminds us that economists' track record in forecasting business cycles leaves much to be desired, and the quest to fully understand what causes economic downturns - and their effects on individuals and families - continues."--BOOK JACKET.

Full contents
  • 1. Why study business cycles?
  • 2. Describing business cycles
  • 3. Early business cycle theories
  • 4. Keynes and Keynesian theory
  • 5. The monetarist model
  • 6. The rational expectations model
  • 7. Real business cycle models
  • 8. New Keynesian models
  • 9. Macroeconomic forecasting
  • 10. The Great Depression
 
Notes

Includes bibliographical references (p. [267]-272) and index.

Subjects Business cycles.  |  Economic forecasting.  |  Business cycles -- United States -- History.  |  Business cycles -- History -- 20th century.

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