Business Cycles and Depressions: An Encyclopedia Economic and business uncertainty dominate today's economic analyses. This new Encyclopedia illuminates the subject by offering 327 original articles on every major aspect of business cycles, fluctuations, financial crises, recessions, and depressions. The articles cover a broad range of subjects, including capsule biographies of leading economists born before 1920. The Encyclopedia introduces readers to the principal ideas, concepts, facts, and events and provides a guide to the most important published literature. The articles about specific historical episodes will be especially helpful for charting patterns and constructing theoretical scenarios. Avoiding jargon and highly technical language, the material is accessible to nonspecialists interested in learning about business cycles in general or about a particular phase of a cycle. Bibliographies after each entry and an index are included. A chronology of major business cycles in the U.S. completes the coverage. |
What people are saying - Write a review
We haven't found any reviews in the usual places.
Other editions - View all
 |
 |
Common terms and phrases
adjustment aggregate analysis assets Bank of England Bibliography boom business cycles business-cycle theory Cambridge Univ capital cause central bank changes cointegration consumption crises crisis currency Currency School cyclical debt decline demand depression developed dynamic Econometric economists edited effects empirical employment endogenous equation equilibrium Essays etary exogenous expansion expectations Federal Reserve firms fluctuations Free Banking Friedman function gold standard growth Hayek income increase industrial inflation interest rates investment issue John Maynard Keynes Journal of Economics Keynes Keynes's Keynesian labor lags liquidity London Lucas critique Macmillan macroeconomic ment monetary policy money supply natural rate nomic output panic percent period Phillips curve Political Economy Press price level production rate of interest rate of profit rational expectations real wages recession reduced Ricardian equivalence rise role saving Say's Law sector shocks stability statistical tion trend United variables workers York
Popular passages
Page 61 - ... 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; this sequence of changes is recurrent but not periodic; in duration business cycles vary from more than one year to ten or twelve years; they are not divisible into shorter cycles of similar character with amplitudes approximating their own (p.
Page 166 - ... raising their wages, we should reply that crises are precisely always preceded by a period in which wages rise generally and the working class actually get a larger share of the annual product intended for consumption. From the point of view of the advocates of 'simple' ( ! ) common sense, such a period should rather remove a crisis.
Page 249 - Mutual interaction, but with money rather clearly the senior partner in longer-run movements and in major cyclical movements, and more nearly an equal partner with money income and prices in shorter-run and milder movements — this is the generalization suggested by our evidence [p.
Page 426 - It has been already shewn that, under a rapid accumulation of capital, or, more properly speaking, a rapid conversion of unproductive into productive labour, the demand, compared with the supply of material products, would prematurely fail, and the motive to further accumulation be checked, before it was checked by the exhaustion of the land. It follows that, without supposing the productive classes to consume much more than they are found to do by experience, particularly when they are rapidly saving...
Page 61 - Business cycles are 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...
Page 357 - Since we claim to have shown in the preceding chapters what determines the volume of employment at any time, it follows, if we are right, that our theory must be capable of explaining the phenomena of the Trade Cycle.
Page 200 - ... all these artificial and untenable antitheses. But as long as you continue to produce in the present unconscious, thoughtless manner, at the mercy of chance -for just so long trade crises will remain; and each successive crisis is bound to become more universal...
Page 298 - The line of output traced by the warranted rate of growth is a moving equilibrium, in the sense that it represents the one level of output at which producers will feel in the upshot that they have done the right thing, and which will induce them to continue in the same line of advance.
Page 359 - ... functions: 1 . maintaining a relatively open market for distress goods; 2. providing countercyclical, or at least stable, long-term lending; 3. policing a relatively stable system of exchange rates; 4. ensuring the coordination of macroeconomic policies; 5. acting as a lender of last resort by discounting or otherwise providing liquidity in financial crisis.
References to this book
 |
 | Warum Gestern �ber Morgen erz�hlt: die Hilfe der langen Wellen der ... Helmut Gaus Limited preview - 2001 |
Bibliographic information
| Title | Business Cycles and Depressions: An Encyclopedia Volume 505 of Garland Reference Library of S Volume 505 of Garland reference library of social science |
| Editors | David Glasner, Thomas F. Cooley |
| Edition | illustrated |
| Publisher | Taylor & Francis, 1997 |
| ISBN | 0824009444, 9780824009441 |
| Length | 779 pages |
| Subjects | › › Business & Economics / Economics / General Business & Economics / Economics / Microeconomics Business & Economics / General Business & Economics / Reference |
| Export Citation | BiBTeX EndNote RefMan |