European Business Cycles and Economic Growth, 1300-2000

Stephen Broadberry and Jason Lennard

No 18502, CEPR Discussion Papers from Centre for Economic Policy Research

Abstract: The modern business cycle features long expansions combined with short recessions, and is thus related to the emergence of sustained economic growth. It also features significant international co-movement, and is therefore associated with growing market integration and globalisation. When did these patterns first appear? This paper explores the changing nature of the business cycle using historical national accounts for nine European economies between 1300 and 2000. For the sample as a whole, the modern business cycle emerged at the end of the eighteenth century.

Keywords: Business cycle; Economic growth; Europe (search for similar items in EconPapers)
JEL-codes: E32 N10 O47 (search for similar items in EconPapers)
Date: 2023-10
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Related works:
Journal Article: European business cycles and economic growth, 1300–2000 (2024)
Working Paper: European business cycles and economic growth, 1300-2000 (2024)
Working Paper: European Business Cycles and Economic Growth, 1300-2000 (2023)
Working Paper: European Business Cycles and Economic Growth, 1300-2000 (2023)
Working Paper: European business cycles and economic growth, 1300-2000 (2023)
Working Paper: European Business Cycles and Economic Growth, 1300-2000 (2023)
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