Search Results
Journal Article
New Classical and New Keynesian models of business cycles
A presentation of simple, but complete, New Classical and New Keynesian models of the economy and business cycles that illustrate the central force behind fluctuations in each. Theoretical and statistical arguments for and against each model are discussed.
Journal Article
The collapse in gold prices: a new perspective
Using a gold-price model that depends heavily on government gold supplies, the author attempts to explain gold price movements since 1981.
Working Paper
Fixprice models for dynamic studies
A specification of static fixprice (or disequilibrium) models developed for dynamic extension in the companion piece, Working Paper 8505. This paper, using only static analysis, gives the disequilibrium explanation for the existence of business cycles.
Journal Article
The difficulty in explaining postwar stability
A discussion of the business cycle before and after the Second World War, with a survey and critique of major arguments used to explain superior postwar economic stability.
Working Paper
Dynamics of fixprice models
An examination of the dynamics of a class of disequilibrium models developed in earlier Working Paper 8504, using both graphics and analysis to show that non-Walrasian equilibria can be steady states for disequilibrium models.