This two-volume book presents an up-to-date overview of the key historical data necessary for analysing cyclical phenomena, and reviews the key features of historical recessions and recoveries drawing on extensive literature on the United Kingdoms' economic history. In bringing together this considerable body of macroeconomic and financial data into long term time series, this book provides a means of analysing macroeconomic behaviour - particularly the study of economic cycles, using it to review the history of business, monetary and financial cycles in the UK since 1700.
Volume I provides an overview of UK business cycles since the late 17th century. The first part of the book considers old and new theories of the business cycle, looking at the impulses that generate business cycles and the propagation mechanisms that determine their length. The second part of the book uses the latest historical estimates of GDP to look at different ways of measuring and estimating business cycle fluctuations in a simple univariate framework where GDP is used as a summary statistic of the cycle. Finally, the book provides a narrative of UK economic cycles since 1660 using estimates based on the GDP data, among other evidence, to shed light on the likely drivers of the cycles and concludes by highlighting areas for future research especially with regard to the link between business and financial cycles.
Publisher: Palgrave MacMillan
Age Range: NA - NA years
Grade Level: NA - NA
Hardcover: 226 Pages
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