This note outlines and discusses some of the strands in the post-Keynesian literature on business cycles. Most post-Keynesians have focused on endogenously generated cycles, but the mechanism varies: some focus on the goods market, others on financial markets, the labor market, or political intervention. The merits of formal modeling of the cycles have also come in for debate. 1 A slightly vers...

Abstract We estimate the dynamic causal effects of consumer sentiment shocks in US. identify autonomous changes survey evidence on confidence using fatalities mass shootings as an instrument. find instrument to be significant for aggregate index expectations and also back up identification scheme with micro that exploits geographical variation shootings. Sentiment have real macroeconomic effect...

Recessions are associated with sharp increases in turbulence that reshuffles firms' productivity rankings. To study the business cycle implications of shocks, we use Compustat data to construct a measure based on (inverse of) Spearman correlations rankings between adjacent years. We document evidence rises recessions, reallocating labor and capital from high-to low-productivity firms reducing a...

Managers engage in income smoothing either to communicate private information about future earnings to investors (informativeness hypothesis) or to distort financial performance for opportunistic purposes (opportunism hypothesis). Business cycles and the monitoring role of institutional ownership may affect the earnings informativeness of income smoothing. The purpose of this research is to exa...

this paper identifies characteristics of business cycles in iran, applying hodrick-prescott (hp) and band-pass (bp) filters. using seasonal and anual data for 1970-2003, it is found that oil income is the key driving factor of business cycles in the iranian economy. furthermore, it is indicated that iran's economy has experienced seven business cycles during this period, in which the econo...

In economic theory, various determinants are considered to explore their effects on trade patterns. Accordingly, business cycles indicate turbulences in economic activities. Business cycles and their fluctuations cause a change in demand for goods and services from the other country then it can affect trade flows. In this study, by using a gravity model, we study the effects of business cycles ...

This paper studies conditions under which demand-side shocks can generate realistic business cycles in RBC models. Although highly persistent demand shocks are necessary for generating procyclical investment, variable capacity utilization and habit formation can reduce the required degree of persistence. Keywords: Demand Shocks; Hall’s Residual; Real Business Cycles; Crowding Out; Investment Dy...