Table of Contents
List of Figures and Tables xi
Preface xv
Part I The Facts of Business Cycles
1 Why Study Business Cycles? 3
2 Describing Business Cycles 11
Part II Macroeconomic Theories of Business Cycles
3 Early Business Cycle Theories 33
4 Keynes's and Keynesiam Theory 48
5 Austrian Economics 67
6 The Monetarist Model 78
7 The Rational Expectations Model 99
8 Real Business Cycle Models 113
9 New Keynesian Models 127
Part III Financial Instability and Forecasting
10 Models of Credit and Financial Instability 147
11 Beliefs, Behavior, Bubbles, and Banking Crises 165
12 Macroeconomic Forecasting 181
Part IV Business Cycles in the United States
13 The Great Depression 203
14 Postwar Business Cycles 221
Part V Modern International Recessions and Depressions
15 The East Asian Crisiss and the IMF 249
16 The Great Recession in Japan 276
17 Sovereign Debt Crises and the Euro-Zone 293
18 The Global Financial Crisis of 2008 312
19 Conclusions-What We Know and Do Not Know about Business Cycles 342
Bibliography 361
Index 375
