Business Cycles in Economics: Types, Challenges and Impacts on Monetary Policies

This anthology presents papers that challenge conventional viewpoints and ideas about business cycles and monetary policy. Some of the selections bring fresh thinking to customary topics, such as business cycle models in perfectly competitive markets, the cyclicality of research and development expenditures, and the effect of uncertainty shocks on consumer spending. Others address concerns that have come to the fore in the aftermath of the global financial crisisthe consequences of quantitative easing, the effectiveness of macro prudential policies, the impact of shadow banking on the fractional-reserve banking system, and correlations in credit default losses, among others.