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Evidence and Ideology in Macroeconomics: The Case of Investment Cycles
2005
Social Science Research Network
The paper reports the principal findings of a long term research project on the description and explanation of business cycles. The research strongly confirmed the older view that business cycles have large systematic components that take the form of investment cycles. These quasi-periodic movements can be represented as low order, stochastic, dynamic processes with complex eigenvalues. Specifically, there is a fixed investment cycle of about 8 years and an inventory cycle of about 4 years.
doi:10.2139/ssrn.814527
fatcat:gi6nux65zzg3pkcpn2kxpitxj4