Booms and Recessions in a Noisy Economy

by Robert E. Hall

One task of macroeconomics is to understand and predict fluctuations of economic activity over time. Economists seek to identify the moving forces of aggregate activity and to describe how these lead to changes in employment and output. Some of these forces, such as military spending, are accepted as fundamental by almost all economists. But there are also important moving forces that appear within a given model as noise, that is, as departures of...

• Format: Hardcover
• Language: English
• ISBN: 0300048572
• ISBN13: 9780300048575
• Release Date: January 1991
• Publisher: Yale University Press
• Length: 71 Pages
• Weight: 0.60 lbs.
• Dimensions: 0.6" x 5.8" x 9.6"