description Thomas Cooley Overview
Thomas Cooley is an American economist and academic who served as a professor at New York University's Stern School of Business. He is widely recognized for his contributions to macroeconomics, particularly within the field of real business cycle theory. Cooley edited the foundational 1995 academic volume "Frontiers of Business Cycle Research," which explored the calibration methods used to analyze aggregate economic fluctuations. His research has significantly influenced the study of how technological shocks impact long-term economic growth.
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Who is economist Thomas Cooley?
Thomas Cooley is an American economist and academic who served as a professor at New York University's Stern School of Business. He is known for work in macroeconomics and real business cycle theory.
What is Thomas Cooley known for in macroeconomics?
Cooley is associated with the development and study of real business cycle theory, which examines how economic fluctuations can arise from changes such as technology shocks. His work helped shape modern quantitative macroeconomic research.
What book did Thomas Cooley edit?
Cooley edited Frontiers of Business Cycle Research, a major collection on business cycle theory and quantitative macroeconomics. The book brought together research on how economists model and measure economic fluctuations.
What is real business cycle theory?
Real business cycle theory explains changes in output and employment largely through real economic forces, especially productivity and technology changes. It differs from approaches that place monetary shocks or demand management at the center of the explanation.
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