Credit and Financial Markets in Keynes Conception of Endogenous Business Cycles: an Interpretation

1998 ◽  
pp. 147-161 ◽  
Author(s):  
Richard Arena ◽  
Alain Raybaut
Keyword(s):  
Business Cycles ◽  
Financial Markets ◽  
Endogenous Business Cycles

Industrial Asset Pricing with Endogenous Business Cycles

2012 ◽  
Author(s):  
Marcus M. Opp ◽  
Christine A. Parlour ◽  
Johan Walden
Keyword(s):  
Asset Pricing ◽  
Business Cycles ◽  
Endogenous Business Cycles

scholarly journals Forecasts, ethics and financial behaviour: Another reading of economic crises

2011 ◽  
Vol 1 (2) ◽  
pp. 7-13
Author(s):  
Miia Parnaudeau ◽  
Elisabeth Paulet
Keyword(s):  
Business Cycles ◽  
Financial Markets ◽  
Final Section ◽  
Subprime Crisis ◽  
Real Economy ◽  
Ethical Practices ◽  
Economic Agents ◽  
Financial Behaviour ◽  
The Uk ◽  
European Economies

The forecasts of economic agents are not without influence on financial markets‟ fluctuations. The recent subprime crisis has shown that incorrect use of information available on the markets added to the creation of complex financial instruments can have major consequences, not only in financial terms, but also on the real economy. Based on a study of three European countries, France, Germany and the UK, the goal of this paper is to assess how more ethical practices among economic agents can reduce the volatility of financial markets and stabilise the business cycles. This should lead to greater stability for European economies. After discussing the various possible forms that the forecasts of economic agents can take, we will study their correlation with business cycles. The final section will be dedicated to formulating various hypotheses and scenarios for explaining speculative cycles and how to control them with more ethical practices.

Endogenous Business Cycles with Frictional Labour Markets

2005 ◽  
Vol 115 (502) ◽  
pp. C161-C175 ◽  
Author(s):  
Nigar Hashimzade ◽  
Salvador Ortigueira
Keyword(s):  
Business Cycles ◽  
Labour Markets ◽  
Endogenous Business Cycles

Income Tax and Endogenous Business Cycles

2003 ◽  
Vol 5 (1) ◽  
pp. 135-145 ◽  
Author(s):  
Atsuo Utaka
Keyword(s):  
Business Cycles ◽  
Income Tax ◽  
Endogenous Business Cycles

Albert Aftalion's Macrodynamic Theory of Endogenous Business Cycles

1997 ◽  
Vol 19 (1) ◽  
pp. 71-92 ◽  
Author(s):  
Cecile Dangel ◽  
Alain Raybaut
Keyword(s):  
Business Cycles ◽  
Scientific Community ◽  
Aggregate Demand ◽  
Cyclical Fluctuations ◽  
Endogenous Business Cycles ◽  
Careful Specification ◽  
The Law ◽  
The Business Cycle ◽  
Monetary Business Cycles ◽  
Desperate Attempt

Albert Aftalion is certainly one of the best known French economists of the first half of the twentieth century. The influence he exerted during his lifetime over the scientific community of his homeland was considerable, and he was promptly acknowledged abroad to be one of the leading theorists of the business cycle. While he is best known as one of the inventors of the acceleration principle (Haberler 1937), we will focus on Aftalion's endogenous explanation of non-monetary business cycles and, more specifically, on the theoretical framework supporting Les crises périodiques de surproduction. Though this work can be seen as a mere “(desperate) attempt” to reconcile the law of markets with general overproduction (Abraham-Frois 1987), we argue instead that Aftalion's failure to construct an equilibrium theory of aggregate overproduction can be traced back to his inadequate treatment of aggregate demand. According to him, long roundabout processes are what generate cyclical fluctuations within a setting in which commodities produced and brought to the market always find an outlet. In other words, the law of markets implies market clearing where declines in prices instead of involuntary stock-building occur in the event of a crisis. How demand behaves in such a setting requires careful specification, which is precisely what is lacking in Aftalion's model.

Threshold nonlinearities and asymmetric endogenous business cycles

2004 ◽  
Vol 54 (2) ◽  
pp. 175-189 ◽  
Author(s):  
Junichiro Ishida ◽  
Masanori Yokoo
Keyword(s):  
Business Cycles ◽  
Endogenous Business Cycles
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