BUSINESS CYCLES Recurring changes in the level of business and economic activity over time Economy grows, reaches a peak, begins a downturn followed by.
Fluctuations and facts Chapter 2. R. Lucas (1977) «Understanding Business Cycles» “…[understanding] business cycles means constructing a model in the.
The business cycle
Baxter King 1999
The business cycle “A wavelike movement in the overall level of business activity”
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