内容

目次

Preface xi Acknowledgements xiii 1 Introduction 1 2 The HistoricalProperties of Macroeconomic Fluctuations 9 2.1 Introduction 9 2.2 Data andMethodology 11 2.3 Time Domain Stylized Facts 15 2.4 The Post-WarStabilization of Aggregate Fluctuations 22 2.5 Classical Analysis: IndividualCycles 26 2.6 Individual Cycles: Facts and Factors 29 2.7 Are Business CyclesAll Alike? 33 2.8 Summary and Conclusions 36 3 Asymmetries andNon-linearities in Aggregate Fluctuations 51 3.1 Introduction 51 3.2Non-Linearities in Macroeconomic Time Series 53 3.3 Testing for BusinessCycle Asymmetries 56 3.4 Modelling Business Cycle Asymmetries 58 3.5 DoBusiness Cycle Asymmetries Account for Non-linearities? 62 3.6 Summary andConclusions 63 4 Distribution Dynamics of Corporate Financial Positions 674.1 Introduction 67 4.2 Financial Factors and Aggregate Fluctuations 69 4.3The Cyclical Behaviour of Firms' Financial Positions 71 4.4 The EvolvingDistribution of Financial Positions 74 4.5 Sectional and Time Heterogeneity78 4.6 Summary and Conclusions 80 5 Corporate Financial Positions andInvestment Dynamics 89 5.1 Introduction 89 5.2 The Financial PropagationMechanism 91 5.3 Empirical Investment Models 93 5.4 Financial Positions andInvestment Decisions 99 5.5 Methodology and Data 102 5.6 Empirical Evidence106 5.7 Summary and Conclusions 110 6 Conclusion 115 Bibliography 119 Index137