Allyn Young's lectures, as recorded by the young Nicholas Kaldor, survey the historical roots of the subject from Aristotle through to the modern neo-classical writers. The focus throughout is on the conditions making for economic progress, with stress on the institutional developments that...

Although experiencing trade cycles, Australia is almost unique in maintaining 20 years of positive economic growth and has survived the global financial crisis relatively unscathed. The economic boom concentrated attention on skill shortages in Australia and their role in preventing the economy...

This paper deals with the presence of asymmetric effects of monetary policy on real activity in Tunisia, using a threshold vector autoregressive model. Two kinds of asymmetry are investigated: asymmetry related to the phase of the business cycle and asymmetry related to the direction of the...

We analyze historical business cycles as a sum of short- and medium-term cycles defined for a particular class of unobserved component models. By associating the trend with the low frequencies of the pseudo-spectrum in the frequency domain, manipulation of the spectral bandwidth will allow us to...

A look at state economic performance offers a broader message.

This paper describes business and growth rate cycles with special reference to the Indian economy. It uses the classical NBER approach to determine the timing of recessions and expansions in the Indian economy, as well as the chronology of growth rate cycles, viz., the timing of speedups and...

This Selected Issues paper for Chile describes the postcrisis recovery experience. The recovery from the 2008–2009 global crisis has been markedly different both among advanced and emerging economies. The steady improvement in the labor wedge-distortions related to the consumption leisure...

It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle model may exhibit indeterminacy and sunspot fluctuations when income tax rates are determined by a balanced-budget rule. This paper introduces in an otherwise standard real...