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Background on Business Cycles

In: Stock Markets in Islamic Countries

Author

Listed:
  • Shaista Arshad

    (University of Nottingham Malaysia Campus)

Abstract

The chapter provides some background on business cycles. When discussing business cycles, it becomes necessary to define clearly recessions and expansions. The National Bureau of Economic Research (NBER) defines recession as a period between a peak and a trough, and expansion as a period between trough and a peak. Furthermore, the different types of cycles and theories associated with business cycles are discussed. A key theory that is relevant in this book is the Real Business Cycle (RBC) theory. According to the theory, changes in technology in the business sector cause the booms and bust of a business cycle.

Suggested Citation

  • Shaista Arshad, 2017. "Background on Business Cycles," Palgrave CIBFR Studies in Islamic Finance, in: Stock Markets in Islamic Countries, chapter 2, pages 7-13, Palgrave Macmillan.
    • Handle: RePEc:pal:pcichp:978-3-319-47803-6_2
    DOI: 10.1007/978-3-319-47803-6_2
    as

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