AI Summary & Key Takeaways
AI InsightWojnilower (1980), «The Central Role of Credit Crunches in Reccnt Financial History».For each reading, first we tried to summarize the approaeh takeri to modelling business cycles paying particnlar attention to: i) The origin of business cycles (the impulse mechanism), ii) The way in which business cycles are generateel over time (the propagation mechanism), iii) The role of morıey and ereelit markets in the cyclical process.Therı tried tıo compare and contrast the approach to the modelling of business cycles taken in:A-Reaıding 2 compared to that in reading 3,B-Reading 1 cornpared to that in reading 4.
📌 3 Key Takeaways
Özet
Öz This study is basically constructed on four articles which represent an overview of a particular school of thought about business cycles and the role which money andıor eredit play in these cycles. The artides are:1- B.S. Bernanke (1983), «Nonmonetary Effects of the Finarıcial erisis in the Propagation of the Great Depression».2" J.B. Long anel C. Plosser (1983), «Real Business Cycles».3- R. Lucas (1977), «Understanding Business Cycles».4- A. Wojnilower (1980), «The Central Role of Credit Crunches in Reccnt Financial History».For each reading, first we tried to summarize the approaeh takeri to modelling business cycles paying particnlar attention to: i) The origin of business cycles (the impulse mechanism), ii) The way in which business cycles are generateel over time (the propagation mechanism), iii) The role of morıey and ereelit markets in the cyclical process.Therı tried tıo compare and contrast the approach to the modelling of business cycles taken in:A-Reaıding 2 compared to that in reading 3,B-Reading 1 cornpared to that in reading 4.