In recent decades the American economy has experienced the worst peace-time inflation in its history and the highest unemployment rate since the Great Depressio

Traditionally, economic growth and business cycles have been treated independently. However, the dependence of GDP levels on its history of shocks, what economi

Presents the empirical data of business cycles and the theories that economists have developed to explain and prevent them, and considers case studies of recess

During our lifetime we experience any number of business cycle crises which undermine our confidence and lead many to their ruin. We also experience the ‘happ