A Survey on Business Cycles: History, Theory and Empirical Findings

This work summarizes recent advances in modelling and econometrics for alternative directions in macroeconomics and cycle theories. Starting from the definition of a cycle and continuing with a historical overview, some basic nonlinear models of the business cycle are introduced. Furthermore, some dynamic stochastic models of general equilibrium (DSGE) and autoregressive models are considered. Advances are then provided in recent applications to economics such as recurrence quantification analysis and numerical tools borrowed from other scientific fields such as physics and engineering. The aim is to embolden interdisciplinary research in the direction of the study of business cycles and related control techniques to broaden the tools available to policymakers.