1 rich Libsyn https://www.libsyn.com 90 600 Antonio Fatás is a professor of economics at INSEAD, an international business school with campuses in Singapore, France, and Abu Dhabi. Antonio joins David on Macro Musings to talk about hysteresis and the business cycle. Specifically, David and Antonio discuss the history of the academic literature on business cycle and trend, the impact of the Kydland and Prescott model, and how endogenous growth models play into hysteresis. &amp;nbsp; Support Macro Musings and get a free NGDP targeting mug: https://donate.mercatus.org/mug/?utm_source=shownotes&amp;amp;utm_medium=hyperlink&amp;amp;utm_campaign=mug &amp;nbsp; Transcript for the episode can be found here. &amp;nbsp; Antonio’s INSEAD profile: https://faculty.insead.edu/fatas/ Antonio’s Twitter: @AntonioFatas &amp;nbsp; Related Links: &amp;nbsp; *Hysteresis and the Business Cycle* by Valerie Cerra, Antonio Fatás, and Sweta Saxena https://faculty.insead.edu/fatas/hysteresis.pdf &amp;nbsp; *Time to build and aggregate fluctuations* by F.E. Kydland and E.C. Prescott https://www.jstor.org/stable/1913386?seq=1 &amp;nbsp; *The Dynamic Effects of Aggregate Demand and Supply Disturbances* by Olivier Jean Blanchard and Danny Quah https://www.jstor.org/stable/1827924?origin=JSTOR-pdf&amp;amp;seq=1 &amp;nbsp; David’s blog: macromarketmusings.blogspot.com David’s Twitter: @DavidBeckworth Macro Musings with David Beckworth http://macromarketmusings.blogspot.com/ <iframe title="Libsyn Player" style="border: none" src="//html5-player.libsyn.com/embed/episode/id/18772256/height/90/theme/custom/thumbnail/yes/direction/forward/render-playlist/no/custom-color/88AA3C/" height="90" width="600" scrolling="no" allowfullscreen webkitallowfullscreen mozallowfullscreen oallowfullscreen msallowfullscreen></iframe> https://assets.libsyn.com/secure/content/101176055