Business cycles and economic distortions
Business cycles are – as in definition of Burns and Mitchell -a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and revivals which merge into the expansion phase of the next cycle; in duration, business cycles vary from more than one year to ten or twelve years; they are not divisible into shorter cycles of similar characteristics with amplitudes approximating their own. On the other hand, Julius Shiskin suggested several rules of thumb to identify a recession, which included two successive quarterly declines in gross domestic product (GDP), a measure of the nation's output. What about the present situation - a real, major and global recession or a different kind of business cycle particularity
Volume (Year): 17 (2012)
Issue (Month): 1 ()
|Contact details of provider:|| Web page: http://cmu-edu.eu|
References listed on IDEAS
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.:
- Batra, Ravi, 2002. "Economics in Crisis: Severe and Logical Contradictions of Classical, Keynesian, and Popular Trade Models," Review of International Economics, Wiley Blackwell, vol. 10(4), pages 623-644, November.
When requesting a correction, please mention this item's handle: RePEc:cmc:annals:v:17:y:2012:i:1:p:295-298. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Georgiana Buzu)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.