The business cycle or economic cycle refers to the periodic
fluctuations of economic activity about its long term growth trend.
The cycle involves shifts over time between periods of relatively
rapid growth of output (recovery and prosperity), alternating with
periods of relative stagnation or decline (contraction or
recession). These fluctuations are often measured using the real
gross domestic product. One of the government's main roles is to
smooth out the business cycle and reduce its fluctuations. To call
those alternances 'cycles' is rather misleading as they don't tend
to repeat at fairly regular time intervals. Most observers find
that their lengths (from peak to peak, or from trough to trough)
vary, so that cycles are not mechanical in their regularity. Since
no two cycles are alike in their details, some economists dispute
the existence of cycles and use the word 'fluctuations' (or the
like) instead. Others see enough similarities between cycles that
the cycle is a valid basis of studying the state of the economy. A
key question is whether or not there are similar mechanisms that
generate recessions and/or booms that exist in capitalist economies
so that the dynamics that appear as a cycle will be seen again and
again. This new book presents leading-edge research in this field.
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!