Dating Business Cycles in the United Kingdom, 1700-2010

Stephen Broadberry, Jagjit Chadha, Jason Lennard and Ryland Thomas

Economic Statistics Centre of Excellence (ESCoE) Discussion Papers from Economic Statistics Centre of Excellence (ESCoE)

Abstract: This paper constructs a new chronology of business cycles in the United Kingdom from 1700 on an annual basis and from 1920 on a quarterly basis. The new chronology points to a number of observations about the business cycle. First, the cycle has significantly increased in duration and amplitude over time. Second, contractions have become less frequent but are as persistent and costly as at other times in history. Third, the typical recession has been tick-shaped with a short contraction and longer recovery. Fourth, the major causes of downturns have been sectoral shocks, financial crises and wars.

Keywords: business cycles; economic history; united kingdom (search for similar items in EconPapers)
JEL-codes: E32 N13 N14 (search for similar items in EconPapers)
Date: 2022-06
New Economics Papers: this item is included in nep-dem, nep-fdg, nep-his and nep-mac
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Citations: View citations in EconPapers (1)

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Related works:
Journal Article: Dating business cycles in the United Kingdom, 1700–2010 (2023)
Working Paper: Dating business cycles in the United Kingdom, 1700–2010 (2023)
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Persistent link: https://EconPapers.repec.org/RePEc:nsr:escoed:escoe-dp-2022-16

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