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business cycle

Observed changes to economic conditions which move from prosperity through recession to depression and hence back to recovery and further prosperity. Also known as the economic cycle. See, ...

business cycle

business cycle   Quick reference

A Dictionary of Economics (5 ed.)

Reference type:
Subject Reference
Current Version:
2017
Subject:
Social sciences, Economics
Length:
99 words

...business cycle The fluctuation of economic activity around the long-term growth path. A cycle involves a period of above-trend growth of output (recovery and prosperity), and a period of below-trend stagnation or decline (contraction or recession). Cycles of various lengths have been identified. The shortest cycle is the Kitchin inventory cycle (3–5 years). Next follows the Juglar fixed investment cycle (7–11 years)—this is the standard economic cycle. The Kuznets infrastructural investment cycle is even longer (15–25 years). The longest cycle usually...

business cycle

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A Dictionary of Finance and Banking (5 ed.)

Reference type:
Subject Reference
Current Version:
2014

... cycle ( trade cycle ) The process by which investment, output, and employment in an economy tend to move through a recurrent cycle of upturn, prosperity, downturn, and recession . The cycle does not describe a regular pattern in either length or amplitude. Cycles in the immediate postwar period were of historically low amplitude, while those of the late 1970s and 1980s had greater amplitude and involved much deeper recessions. The reasons for the business cycle remain little understood. See also kondratieff cycle...

business cycle

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A Dictionary of Business and Management (6 ed.)

Reference type:
Subject Reference
Current Version:
2016
Subject:
Social sciences, Business and Management
Length:
84 words

... cycle ( trade cycle ) The process by which investment, output, and employment in an economy tend to move through a recurrent cycle of upturn, prosperity, downturn, and recession . The cycle does not describe a regular pattern in either length or amplitude. Cycles in the immediate postwar period were of historically low amplitude, while those of the late 1970s and 1980s had greater amplitude and involved much deeper recessions. The reasons for the business cycle remain little understood. See also Kondratieff cycle...

business cycle

business cycle   Quick reference

A Dictionary of Finance and Banking (6 ed.)

Reference type:
Subject Reference
Current Version:
2018

... cycle ( trade cycle ) The process by which investment, output, and employment in an economy tend to move through a recurrent cycle of upturn, prosperity, downturn, and recession . The cycle does not describe a regular pattern in either length or amplitude. Cycles in the immediate postwar period were of historically low amplitude, while those of the late 1970s and 1980s had greater amplitude and involved much deeper recessions. The reasons for the business cycle remain little understood. See also kondratieff cycle...

business cycle

business cycle   Reference library

The Handbook of International Financial Terms

Reference type:
Subject Reference
Current Version:
2005

... cycle . Observed changes to economic conditions which move from prosperity through recession to depression and hence back to recovery and further prosperity. Also known as the economic cycle . See, for example, Kondatrieff wave...

business cycle

business cycle  

Dictionary of the Social Sciences

Reference type:
Subject Reference

... cycle The alternating expansion and contraction of overall economic and business activity. A business cycle consists of a phase of rapid growth followed by a decline in rates of growth—sometimes resulting in “negative growth,” or shrinkage of the economy. These changes are tracked through aggregate economic measures, such as gross domestic product, industrial output, investment, consumption, and employment. A vast amount of economic literature deals with the explanation, periodicity, and duration of business cycles—variously describing them as...

business cycle

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A Dictionary of Geography (5 ed.)

Reference type:
Subject Reference
Current Version:
2015

... cycle Economies seem to rise and fall cyclically. Saks and Wozniac (2007) IZA Discuss. Paper 2766, link long-distance migration with business cycle fluctuations. Wall (2006) FRB St Louis, W. Paper 2006–035 A finds regional variations, and an increase in the time period between successive expansions in Japan,...

business cycle

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A Dictionary of Sociology (4 ed.)

Reference type:
Subject Reference
Current Version:
2015
Subject:
Social sciences, Sociology
Length:
162 words

... cycle Recurring economic cycles, involving a period of above-average growth (expansionist phase), followed by one of lower than average growth (recession), then one of negative growth (depression). Modern economists generally assume that the ‘normal’, ‘classic’, or ‘Juglar’ cycle lasts approximately five years, but there is no consensus as to its causes, indeed there are some who have argued that the fluctuations themselves are random rather than uniform in character. The Russian-born American development economist Simon Kuznets also identified a...

business cycle

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A Dictionary of Marketing (4 ed.)

Reference type:
Subject Reference
Current Version:
2016
Subject:
Social sciences, Business and Management
Length:
657 words

... cycle ( trade cycle ) The periodic fluctuation of levels of economic activity that affects overall output, profitability, productivity, and employment. At a macroeconomic level the business cycle is the cyclical, periodic, or regular fluctuations of economic activity and income through boom, downturn, recession, and upturn. Finally, the business cycle can be a definition of the progression of events from business formation that starts with the establishment of a new business, products, or services and continues through their growth, maturity, and...

Business Cycle.

Business Cycle.   Reference library

Anthony P. O'Brien

The Oxford Companion to United States History

Reference type:
Subject Reference
Current Version:
2004
Subject:
History, Regional and National History
Length:
1,049 words

...of the business cycle. Although many public figures and scholars feared that depression would return after World War II , the postwar business cycle proved relatively mild. The long expansion during the 1960s led many to declare the business cycle “dead,” but severe recessions in 1974–1975 and 1981–1982 revived concern about macroeconomic stability. Subsequently, however, the long expansion of the 1990s once more stimulated discussion about whether business cycles were inevitable in modern economic life. Many explanations for the business cycle have been...

business cycle

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A Dictionary of Business Research Methods

Reference type:
Subject Reference
Current Version:
2016
Subject:
Social sciences, Business and Management
Length:
57 words

... cycle The periodic fluctuations in economic output and associated variables such as employment and exports, experienced by developed economies at the national level and by that of the global economy. While the length of the cycle varies, the phases are generally accepted as being: recession , recovery , expansion , and contraction , which are repeated over...

endogenous business cycle

endogenous business cycle   Quick reference

A Dictionary of Economics (5 ed.)

Reference type:
Subject Reference
Current Version:
2017
Subject:
Social sciences, Economics
Length:
61 words

...endogenous business cycle A model of business cycles where the sources of fluctuation are random shocks to the beliefs of the economic agents. These beliefs become self-fulfilling due to increasing returns to scale in some sector of the economy or at the aggregate level, or due to the presence of externalities in the agents’ choices. See also real business cycle...

real business cycle

real business cycle   Quick reference

A Dictionary of Economics (5 ed.)

Reference type:
Subject Reference
Current Version:
2017
Subject:
Social sciences, Economics
Length:
72 words

...real business cycle ( RBC ) A theory of the business cycle where the source of fluctuations is persistent random shocks to the technology, or to total factor productivity in the production function. The key message of real business cycle models is that cyclical fluctuations occur as an efficient response to the exogenous shocks to the economy. Consequently, there is no need for counter-cyclical government intervention. See also endogenous business cycle...

political business cycle

political business cycle   Quick reference

A Dictionary of Economics (5 ed.)

Reference type:
Subject Reference
Current Version:
2017
Subject:
Social sciences, Economics
Length:
56 words

...political business cycle The theory that some economic fluctuations are due to governments seeking political advantage by expanding the economy in advance of elections. Governments may also choose to make painful reforms immediately after elections, to give the electorate a chance to forget the pain and start reaping the benefits in time for the next election....

Political Business Cycle

Political Business Cycle   Reference library

The Oxford Companion to Politics of the World (2 ed.)

Reference type:
Subject Reference
Current Version:
2004
Subject:
Social sciences, Politics
Length:
560 words

...Business Cycle . The term “political business cycle” refers to the efforts of politicians to manipulate the timing and outcome of phases in the business cycle. Because policy makers, such as the president, are held accountable by voters for inflation, unemployment, and economic growth, they have an incentive to influence these outcomes if they wish to remain in office. Theories of the business cycle call attention to the key role played by political motivations in economic policy making. The typical political business cycle model, initially put...

Models of the Political Business Cycle

Models of the Political Business Cycle   Reference library

The New Oxford Companion to Economics in India (3 ed.)

Reference type:
Subject Reference
Current Version:
2012

...business cycle . This entry deals with the phenomenon of political business cycles and is built around three themes. First, I describe two models that furnish theoretical arguments for why such cycles crop up at all. The theoretical literature on this topic is both vast and expanding; the models that I discuss are amongst the most influential in this genre. Second, I survey and interpret the empirical literature on political business cycles in India. Third, I suggest avenues for further research using Indian data. Models of the Political Business Cycle Any...

The Business Cycle and Health

The Business Cycle and Health   Reference library

Cristina Bellés-Obrero and Judit Vall Castelló

The Oxford Encyclopedia of Health Economics

Reference type:
Subject Reference
Current Version:
2020
Subject:
Social sciences, Economics
Length:
18,081 words

...evidence about alcohol consumption and the business cycle . Working paper. Johannesson, M. (2005). Business cycles and mortality: Results from Swedish microdata. Social Science & Medicine , 60 (1), 205–218. Johansson, E. , Böckerman, P. , Prättälä, R. , & Uutela, A. (2006). Alcohol-related mortality, drinking behavior, and business cycles. European Journal of Health Economics , 7 (3), 212–217. Lam, J.-P. , & Piérard, E. (2017). The time-varying relationship between mortality and business cycles in the USA. Health Economics , 26 (2),...

business cycle

business cycle n   Quick reference

Pocket Oxford Italian Dictionary: English-Italian (4 ed.)

Reference type:
Bilingual Dictionary
Current Version:
2012
Subject:
Bilingual dictionaries
Length:
6 words
business cycle

business cycle noun   Quick reference

Oxford Dictionary of English (3 ed.)

Reference type:
English Dictionary
Current Version:
2015
Subject:
English Dictionaries and Thesauri
Length:
35 words
business cycle

business cycle noun   Quick reference

New Oxford American Dictionary (3 ed.)

Reference type:
English Dictionary
Current Version:
2015
Subject:
English Dictionaries and Thesauri
Length:
37 words

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