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The new classical approach to macroeconomics, which assumes that people gather and use economic information efficiently, has been the most important theoretical

This up-to-date book on modern theories of the business cycle fills a gap in the literature by presenting a comprehensive analysis of the major theoretical work

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economi

This volume is a collection of key articles on modern business cycle theory. Fundamental to business cycle theory is the estimation of the role played by differ