The paper sets out a monetary business cycle model with three alternative exchange technologies, the cash … puzzles of the monetary business cycle theory. The credit model improves the ability to explain the procyclic movement of …

business cycle, and how the macroeconomy looks in the aftermath of changes in trade restrictiveness. For the sample as a whole …

integration impacts positively on business cycle comovements of economies. We consider three Western equity markets, represented … high frequencies have become less pronounced; (ii) the European markets are in phase at business cycle frequency, while the … findings of traditional business cycle research, and it has the advantage of using only readily available stock market data. …

According to the intertemporal-substitution hypothesis, which underlies the typical empirical real business cycle model …-substitution hypothesis. We estimate a fixed-effects life-cycle labor-supply model with more informative data, the triannual micro data of the … labor-market specification of empirical real business cycle models. …

This paper proposes a new filter technique to separate trend and cycle based on stylised economic properties of trend … and cycle, rather than relying on ad hoc statistical proper-ties such as frequency. Given the theoretical separation … between economic growth and business cycle literature, it is necessary to make the measures of trend and cycle match what the …