The Kydland Facts on Leads and Lags in Business Cycles

The second decisive piece of evidence
  • Arvid Aulin
Part of the Lecture Notes in Economics and Mathematical Systems book series (LNE, volume 464)


The minimal macroeconomic dynamics constructed in Chapter 3 indeed suggests a solution to the problem of business cycles along those lines, emphasizing further the significance of the cycles in labor input and labor productivity. This concerns also the problem of leads and lags.


Business Cycle Extremum Point Minimum Point Stylize Fact Balance Growth Path 
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Copyright information

© Springer-Verlag Berlin Heidelberg 1998

Authors and Affiliations

  • Arvid Aulin
    • 1
  1. 1.The Finnish Academy of Science and LettersHelsinkiFinland

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