Download or read book Causal and Stochastic Elements in Business Cycles written by Arvid Aulin and published by Springer Science & Business Media. This book was released on 2012-12-06 with total page 132 pages. Available in PDF, EPUB and Kindle. Book excerpt: A critical examination of The prevailing orthodoxy according to which all macroeconomic theory should be reducible to microeconomics. The book provides a mathematical extension of the Lucas theory to allow for the effects of creation of knowledge upon economic development so as to improve the prediction of business cycle data.