Can we ever truly solve the mystery of the business cycle?
In short: While the business cycle is a fundamental feature of the real world, many theorists believe it could theoretically be solved or priced. Professor Jagjit Chadha explores the gap between economic theory and practice.
Within this opening talk, Gresham College's Mercers’ School Memorial Professor of Commerce, Jagjit Chadha, explores various macroeconomic enigmas occurring where practical reality clashes with economic models. He investigates whether the business cycle can be predicted or priced, looking at how real-world phenomena might require us to refine our existing economic models.
The lecture is part of a series of six talks by Professor Chadha that dissect various macroeconomic issues, ranging from the Carry Trade to the Equity Premium, to determine how our understanding of the economy can be improved.
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- Summary by Intellect · source: Introducing The Business Cycle - Professor Jagjit Chadha
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