This is the page of the Econ 590 course

Vancouver School of Economics


New Avenues in Business Cycle Research

The course will be taught by Paul Beaudry & Franck Portier.

These lectures will begin by a review and a critical assessment of the dominant theories of business cycles. We will then discuss a set of empirical observations that have motivated recent alternative lines of inquiry. In the process, we will discuss the merits and pitfalls of using VAR evidence and Bayesian estimation for motivating business cycle research. We discuss the challenges and desirability of building a macroeconomic model where demand forces drive fluctuations without relying on sticky prices. We will overview a set of models aimed overcoming these challenges. The lectures will finish with a discussion of the relationship between social learning and business cycles. A substantial fraction of the lectures and course work will be directed towards mastering the tools required for solving and estimating stochastic dynamic general equilibrium models.



Useful readings


Class Presentations

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