This paper studies the co-movement of intra-Asian business cycles. Based on the regional bilateral trade statistics and using three de-trending techniques to examine several macroeconomic fundamentals, the negative trade effects prevailing in the cases of economic activity such as real GDP and industrial production indicate that tighter intraAsian trade may most likely lead to more idiosyncrati...

This paper studies an agent-based model that bridges Keynesian theories of demandgeneration and Schumpeterian theories of technology-fueled economic growth. We employ the model to investigate the properties of macroeconomic dynamics and the impact of public polices on supply, demand and the “fundamentals” of the economy. We find that the complementarities between factors influencing aggregate d...

The construction of skyscrapers that qualify as the “World’s Tallest Building” tends to coincide with major downturns in the economy. The Skyscraper Index, created by economist Andrew Lawrence shows a high level of correlation between skyscraper construction and the business cycle. Is this just a coincidence, or perhaps do skyscrapers cause business cycles? A theoretical foundation of “Cantillo...

H ousing is a commodity with unique features and its market, especially in urban areas, is characterized by unique business cycles that differentiate it from other commodities. On one hand, housing market can be deeply influenced by economic shocks, and on the other hand, the sheer size of housing investments makes the economy particularly vulnerable to any shock in this market. Henc...

The most interesting features of evolutionary games, besides the ability to select among multiple Nash equilibria, are their dynamic properties. These dynamic properties are best displayed in a stochastic setting. In the usual deterministic setting, dynamics disappear in the long run (or they are stable orbits that repeat themselves). Studying evolutionary dynamics in a stochastic setting has a...