Endogenous business cycles and market structure
FP4 — Training and Mobility of Researchers
- Duration
- 1996-02-05 → 1996-08-04
- EU contribution
- —
- Participants
- 2
- Scheme
- RGI
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Project objective
Business cycles are defined as more or less regular fluctuations in the aggregate economic activity of nations. With regard to the question of economic policy, the problems of economic stability, causes of the business cycle and the properties of the markets play an important role. The purpose of the present research project is to provide a theoretical analysis of the interactions of markets and market structures in their relevance for the business cycle. ln this contexts the analysis shall focus its attention on two markets, one for an investement good and one for a consumption good. A dynamical model representing the relevant spillover effects and thereby taking the expectations of entepreneurs of future demand into account shall be developed. It is expected that also for this sort of model endogenous fluctuations can be proved to exist. The consideration of demand-expectations may give additional insight into the conditions for business fluctuations and therefore affect policy recommendations.
Original text from CORDIS.
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Data: CORDIS, © European Union