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Recent theories of the business cycle: the role of speculative inventories

Laroque, G.; (1992) Recent theories of the business cycle: the role of speculative inventories. In: Benhabib, J., (ed.) Cycles and Chaos in Economic Equilibrium. (pp. 180-198). Princeton University Press: New Jersey, US.

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Abstract

Book description: In recent years economists have begun to use the techniques of non-linear dynamics to show that some apparently erratic and turbulent economic phenomena reflect subtle underlying patterns. How do cyclic and chaotic dynamics arise in economic models of equilibrium? How can empirical methods be used to detect nonlinearities and cyclic and chaotic structures in economic models? In examining these questions, this book brings together the most significant work that has been done to date in economics-based chaos theory. Selected here particularly for the economist who is not a specialist in chaos theory, the essays, some previously unpublished and others not widely available, describe a new tool for understanding business cycles, stabilization policy, and forecasting.

Type:Book chapter
Title:Recent theories of the business cycle: the role of speculative inventories
ISBN:0691042497
Publisher version:http://press.princeton.edu/titles/4958.html
Language:English
UCL classification:UCL > School of Arts and Social Sciences > Faculty of Social and Historical Sciences > Economics

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