Background on Business Cycles

Shaista Arshad
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Shaista Arshad: University of Nottingham Malaysia Campus

Chapter 2 in Stock Markets in Islamic Countries, 2017, pp 7-13 from Palgrave Macmillan

Abstract: Abstract The chapter provides some background on business cycles. When discussing business cycles, it becomes necessary to define clearly recessions and expansions. The National Bureau of Economic Research (NBER) defines recession as a period between a peak and a trough, and expansion as a period between trough and a peak. Furthermore, the different types of cycles and theories associated with business cycles are discussed. A key theory that is relevant in this book is the Real Business Cycle (RBC) theory. According to the theory, changes in technology in the business sector cause the booms and bust of a business cycle.

Keywords: Business cycle; Real business cycle; Expansion; Recession (search for similar items in EconPapers)
Date: 2017
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Persistent link: https://EconPapers.repec.org/RePEc:pal:pcichp:978-3-319-47803-6_2

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DOI: 10.1007/978-3-319-47803-6_2

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