Business Cycles and Equilibrium

Throughout his career Fisher Black has described a view of business fluctuations based on the idea that a well-developed economy will be continually in equilibrium. In the essays that constitute this book he explores this idea thoroughly and reaches some surprising conclusions. <p>Provocative and clearly written, <i>Business Cycles and Equilibrium</i> will be of value to students of macroeconomics as well as those of finance and the international economy.</p>