Essays in business cycle theory

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dc.contributor.author Dibeh, Ghassan Labib
dc.date.accessioned 2017-08-30T09:28:37Z
dc.date.available 2017-08-30T09:28:37Z
dc.date.copyright 1994 en_US
dc.date.issued 2017-04-07
dc.date.submitted 1994-05
dc.identifier.uri http://hdl.handle.net/10725/6107
dc.description.abstract The first essay discusses and critiques different exogenous business cycle theories (Real Business Cycles, Lucas,) on both the analytical and foundational grounds. The essay argues that the recent surge in interest in business cycles reopens the question posed earlier in the century on the incorporation of business cycles into economic theory. The essay shows that he modern exogenous theories take the Frischian impulse and propagation mechanisms dichotomy and attempts to reduce it further into an impulse-only theory of the business cycle. The Frischian view of impulses as reinforcement mechanisms that prevent the cycle from dying down is replaced by a system that supposedly generates cycles upon impulse only. The second essay develops a nonlinear model of the business cycle based on Kalecki''s 1935 linear model. The nonlinearity is assumed to rise from the effect of capital stock on profitability. The more capital stock is available, the more intense the negative effect of the capital stock on investment. By applying both the averaging method and numerical simulations, solutions representing limit cycle solutions are found. The model is extended to take into account the existence of spatial economic interactions. A two-region economy is considered in which interregional investment flows couple the region-specific business cycles. Numerical simulations show that the correlation and regularity in the occurrence of downturns and upturns between economic spaces depend critically on the time delays involved. The third essay develops a mathematical model of the business cycle based on Marx''s theory of capital accumulation and the reserve army of labor. The assumed functional relationship between wages and profits satisfies the recent theoretical attempts at integrating the Kaleckian-Keynesian demand-driven economy with the Classical-Marxian class conflict driven-economy. The labor market is modeled according to the reserve army hypothesis; the wage rate depends on the level of unemployment in a dynamic Walrasian market. The model is then solved numerically producing limit cycle solutions which represent persistent fluctuations in the economy. en_US
dc.language.iso en en_US
dc.subject Business cycles en_US
dc.subject Economics en_US
dc.title Essays in business cycle theory en_US
dc.type Thesis en_US
dc.author.degree PHD en_US
dc.author.school SOB en_US
dc.author.idnumber 199490150 en_US
dc.author.department Department of Economics (ECON) en_US
dc.description.embargo N/A en_US
dc.description.physdesc ix, 147 leaves : ill. en_US
dc.author.advisor Cleaver, Harry M. en_US
dc.description.bibliographiccitations Includes bibliographical references (leaves 135-147). en_US
dc.identifier.doi https://doi.org/10.26756/th.1994.38 en_US
dc.identifier.ctation Dibeh, G. L. (1995). Essays in business cycle theory. en_US
dc.author.email gdibeh@lau.edu.lb en_US
dc.identifier.tou http://libraries.lau.edu.lb/research/laur/terms-of-use/thesis.php en_US
dc.identifier.url https://search.proquest.com/pqdtglobal/docview/304128988/fulltextPDF/733A62D4B1B7401DPQ/1?accountid=27870 en_US
dc.publisher.institution University of Texas at Austin en_US
dc.author.affiliation Lebanese American University en_US

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