This 1988 book presents a historical investigation of the theoretical development of contemporary Equilibrium Business Cycle Theory (EBCT).

Acknowledgments; 1. Introduction: equilibrium business cycle theory; 2. The classical tradition and business cycle theory; 3. The econometric approach to business cycles; 4. Hayek, the Cowles Commission, and equilibrium business cycle theory; 5. Contemporary trends in macroeconometrics; 6. Conclusion; References; Index.