We apply the advanced time-and-frequency-domain method of singular spectrum analysis to study business cycle dynamics in a set of nine U.S. macroeconomic indicators. This method provides a robust way to identify and reconstruct shared oscillations, whether intermittent or modulated. We address...

We present a Solow-type model that incorporates rigidity and delay in employment and wage adjustment. When adjustment delays exceed a critical value of 3.4 days, endogenous business cycles with realistic characteristics arise. In response to stochastic aggregate shocks and natural disasters, for...