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Future Areas for Research

In: Business Cycles Fact, Fallacy and Fantasy

Author

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  • Sumru G. Altug

    (Koç University, Turkey and Centre for Economic Policy Research, UK)

Abstract

The literature on business cycles is vast. In this book, I have offered a perspective based on my own perceptions and mindsets. Nevertheless, even the experience of reviewing some of this literature shows that it is lively, at times contentious, but always thought-provoking. There are many other topics of interest that we could have discussed regarding business cycles. For one, I have omitted a discussion of multi-sector models in generating business cycle behavior. For example, it may be that shocks are concentrated in a particular sector and are propagated to the rest of the economy from that sector.1 In such cases, one needs to consider multi-sector models since the one-sector growth model does not allow for a consideration of these issues. However, multi-sector models may also have shortcomings because they typically imply that overall expansions in the economy are associated with contractions in one sector…

Suggested Citation

  • Sumru G. Altug, 2009. "Future Areas for Research," World Scientific Book Chapters, in: Business Cycles Fact, Fallacy and Fantasy, chapter 8, pages 137-138, World Scientific Publishing Co. Pte. Ltd..
    • Handle: RePEc:wsi:wschap:9789812832788_0008
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