Review of Theoretical Aspects of the Business Cycle

Sylwia Pangsy-Kania

Ekonomia journal, 2004, vol. 12

Abstract: To-day, the problems of economic fluctuations assume particular importance. Every country.s economic condition, irrespective of its socioeconomic system, is subject to cyclical changes. Alternating phases of faster development and stagnation (or even recession) form a business cycle. An important task, on both the theoretical and empirical planes, is explanation of the origin of such fluctuations, the mechanism of their formation and description of their morphological characteristics, preceded by a short review of the existing definitions of the business cycle.

Date: 2004
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