The New Characteristic Features of Cyclic Recurrence of Economic Dynamics (English)
AbstractThe article focuses on the basic traits of theoretical concepts and modifying trends outlined in the empirical expression of the regularities which govern the cycle development of the modern stage. The principles of cyclic recurrence are interpreted on the basis of traditional understanding of development of economic cycles, as well as of a new cyclic recurrence form related to the emerging cycles of economic growth. This form is confirmed by recurrent fluctuations in the wavy trajectory of growth over the past 40 years. The transformation process of the "classical" form of the cyclic recurrence into the new one is justified by the realities of economic dynamics in the world, EU member states and the United States during 1971-2010. Particularly, this study covers the dynamics of gross product, employment, unemployment and inflation. It also notes changes in coordination and synchronization degree of these basic indicators applicable for analysis of the economic cycle. New trends are expressed through increasing cyclic resistance and formation of a longer cycle of growth in world economy and the economies of the European Union and the United States.
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Bibliographic InfoArticle provided by Bulgarian Academy of Sciences - Economic Research Institute in its journal Economic Thought.
Volume (Year): (2012)
Issue (Month): 2 ()
Find related papers by JEL classification:
- E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- F43 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - Economic Growth of Open Economies
- F44 - International Economics - - Macroeconomic Aspects of International Trade and Finance - - - International Business Cycles
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Wesley Clair Mitchell, 1927. "Business Cycles: The Problem and Its Setting," NBER Books, National Bureau of Economic Research, Inc, number mitc27-1, December.
- Arthur F. Burns & Wesley C. Mitchell, 1946. "Measuring Business Cycles," NBER Books, National Bureau of Economic Research, Inc, number burn46-1, December.
- Wesley Clair Mitchell, 1927. "Introductory pages to "Business Cycles: The Problem and Its Setting"," NBER Chapters, in: Business Cycles: The Problem and Its Setting, pages -23 National Bureau of Economic Research, Inc.
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