Business Cycle Theory

Business cycle theory is a broad and disparate field. Different schools of thought offer alternative explanations for cycles, often using different mathematical methods. This book provides a compact exposition of the main theories since Keynes—Keynesian economics, monetorism, new classical economics, the real business cycles theory, and new Keynesian economics—using a unified mathematical approach.

Lutz G. Arnold has been Professor of Economics at the University of Regensburg since May 2001, at which time he was the youngest professor of economics in Germany. He received his Ph.D. from the University of Dortmund and was awarded the EEA Young Economist Award 2000 for his work on growth and international trade. His current research focuses upon growth, business cycles, international trade, and financial markets.