Catastrophes and Chaos in Business Cycle Theory

Test of Real Business Cycle Theory in Iran's economy

This paper tests the importance of real shocks as sources of fluctuations in iran’s economy. For this purpose, based on the work of Boschen and Mills, a set of non-monetary variables which can affect economic growth have been selected and by using an illustrative business cycle model in which the production depends on the past and current value of real shocks, the influence 01’ these variables ...

Chaos/Complexity Theory and Education

Sciences exist to demonstrate the fundamental order underlying nature. Chaos/complexity theory is a novel and amazing field of scientific inquiry. Notions of our everyday experiences are somehow in connection to the laws of nature through chaos/complexity theory’s concerns with the relationships between simplicity and complexity, between orderliness and randomness (Retrieved from http://www.inc...

Business Cycle Theory and Econometrics

We outline in turn criticisms made by econometricians of the methods used in empirical business-cycle research and then criticisms made by business-cycle researchers of some methods used by econometricians. The aim is to clarify and in some cases correct these criticisms. Overall there is no conflict in using rigourous statistical procedures to study modern dynamic stochastic general equilibriu...

Business Cycle Features In The Iranian Economy

Granger Causality and Equilibrium Business Cycle Theory

I investigate whether existing equilibrium business cycle models driven by demand shocks (in particular, government spending shocks) can rationalize the observed causal relationship when the following information structure is embedded: (i) Employment and output cannot respond to demand shocks immediately; they can do so only with a lag behind consumption. And (ii) investment cannot respond to d...