An overview of 12 theories in the field of economic cycles (business cycles) مقاله

خلاصه ماشینی:

In other words, is it possible to explain the characteristics of business cycles within the framework of the classical economic system, meaning whether at any moment in time, actors show an optimal reaction to their perceptions regarding prices and markets clear (are transparent). In this theory, the level of expected prices and wages are adjusted with a time lag; therefore, continuous increase or decrease in the money supply causes the creation of economic cycles (fluctuations in the level of real output). To explain further, the real business cycle model answers the question of how the rational optimization of individuals leads to economic changes over time. An important point is to raise the question of why real business cycle theorists reject the New Classical economics explanation regarding the cause of short-term fluctuations in the level of production, while from other aspects, these two groups are very similar to each other. Critics of the real business cycle theory, many of whom examine economic cycles from a Keynesian perspective, consider it to be the result of changes in nominal aggregate demand as well as changes occurring in supply-side variables.