Business Cycle
The concept defines and describes the business cycle and reviews different explanations, types and leading theories that explain business cycles.
Technique Overview
Business Cycle Definition
Business Cycles are short-term economic fluctuations around a long-run growth trend that correspond to changes in economic conditions. These fluctuations are irregular and unpredictable (Mankiw, 2011). The difference between a business cycle and a trend is what is known as the output gap. Economic cycles, as they can also be termed, are a continuous set of expansions and recessions (real income and GDP decline while unemployment rises); Conway (2009) states that if an economy contracts for two consecutive quarters then it is technically in recession.
Business Cycle Description *
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Business Evidence
Strengths, weaknesses and examples of Business Cycle *
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Business Application
Implementation, success factors and measures of Business Cycle *
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Professional Tools
Business Cycle videos and downloads *
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Further Reading
Business Cycle web and print resources *
Business Cycle references (4 of up to 20) *
- Brittan, S. (2009) Patterns in the eye of the beholder. Financial Times, Dec 10. Available at:
- BusinessWeek (2002) Restating the '90s. Apr 1. Available at:
- Conway, E. (2009) 50 Economics Ideas You Really Need to Know. Quercus.
- Fiorito, R., Kollintzas, T. (1994) Stylized Facts of Business Cycles in the G7 From a Real Business Cycles Perspective. European Economic Review, 38(2), pp. 235-269.
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