»The Formation of Business Cycle Research in the Early 20th Century«: The formation of research
on macroeconomic fluctuations in the early 20th century was characterised by a debate on key
questions: is the business cycle a problem of applied economic theory or does it require a
fundamentally new synthesis of micro- and macroeconomics? What was the role of money in
completing this task? Can macro fluctuations be explained by a collection and inspection of
data or can these data only be properly read by a dominant theory chosen for analytical
reasons?
