Record Details

<p>The analysis begins with a synthetic discussion of the current state of the business cycle theory. Three groups of current theories have been briefly discussed: the real business cycle theory, the Neoschumpeter theory and those formulated within the framework of the new Keynesian economy. A common belief that deviations of production and employment from so-called natural levels are caused by various kinds of shocks of a random nature, coexists with these theories. This belief is characteristic of representatives of the new classical economy and of monetarists.</p><p>It was assumed in this article that proving the rhythmicallity of oscillations which occur in reality is a <em>sine qua non</em> condition<em> </em>for including them in the regularity of development. This rhythmicallity should express itself in a comparatively small differentiation of duration, i.e. the cycle period. After accepting a quite elaborate definition of a cycle, most justified  from the theoretical point of view, its periods in American, German and Polish economies were analysed. A period was counted from the beginning of the phase of revival in one business cycle to the beginning of the phase of revival in the next one. A very close resemblance between the cycle course in Poland and the compared economies was found.</p>

Ekonomia i Prawo. Economics and Law

View Archive Info
 
 
Field Value
 
Authentication Code dc
 
Added Entry - Uncontrolled Name Polszakiewicz, Barbara; Nicolaus Copernicus University
 
Summary, etc. <p>The analysis begins with a synthetic discussion of the current state of the business cycle theory. Three groups of current theories have been briefly discussed: the real business cycle theory, the Neoschumpeter theory and those formulated within the framework of the new Keynesian economy. A common belief that deviations of production and employment from so-called natural levels are caused by various kinds of shocks of a random nature, coexists with these theories. This belief is characteristic of representatives of the new classical economy and of monetarists.</p><p>It was assumed in this article that proving the rhythmicallity of oscillations which occur in reality is a <em>sine qua non</em> condition<em> </em>for including them in the regularity of development. This rhythmicallity should express itself in a comparatively small differentiation of duration, i.e. the cycle period. After accepting a quite elaborate definition of a cycle, most justified  from the theoretical point of view, its periods in American, German and Polish economies were analysed. A period was counted from the beginning of the phase of revival in one business cycle to the beginning of the phase of revival in the next one. A very close resemblance between the cycle course in Poland and the compared economies was found.</p>
 
Publication, Distribution, Etc. Uniwersytet Mikołaja Kopernika w Toruniu
2009-12-31 00:00:00
 
Electronic Location and Access application/pdf
http://www.apcz.pl/czasopisma/index.php/EiP/article/view/EiP.2009.007
 
Data Source Entry Ekonomia i Prawo. Economics and Law; Vol 5, No 1 (2009)
 
Language Note pl
 
Terms Governing Use and Reproduction Note Copyright (c) 2015 Ekonomia i Prawo. Economics and Law