UK Business and Financial Cycles Since 1660

Volume I: A Narrative Overview

  • Nicholas Dimsdale
  • Ryland Thomas

Table of contents

  1. Front Matter
    Pages i-xix
  2. Nicholas Dimsdale, Ryland Thomas
    Pages 1-5
  3. Nicholas Dimsdale, Ryland Thomas
    Pages 7-34
  4. Nicholas Dimsdale, Ryland Thomas
    Pages 35-53
  5. Nicholas Dimsdale, Ryland Thomas
    Pages 55-69
  6. Nicholas Dimsdale, Ryland Thomas
    Pages 71-93
  7. Nicholas Dimsdale, Ryland Thomas
    Pages 95-217
  8. Nicholas Dimsdale, Ryland Thomas
    Pages 219-221
  9. Nicholas Dimsdale, Ryland Thomas
    Pages C1-C1
  10. Back Matter
    Pages 223-242

About this book


This book is the first of two volumes that aim to provide an up-to-date overview of the key data and techniques necessary for analysing the historical behaviour of business and financial cycles in the United Kingdom. Drawing on an extensive secondary literature and the considerable body of historical macroeconomic and financial time series data that exist for the United Kingdom, the two volumes will review the key features of historical recessions and recoveries over the course of three and a half centuries. 

Volume 1 provides an overview of UK business cycles since 1660. 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 duration and amplitude. 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 within a simple univariate framework. Finally, the book provides a narrative of UK economic fluctuations since 1660 using a whole range of economic data to shed light on the main drivers of cyclical behaviour.  It concludes by highlighting areas for future research especially with regard to the link between business and financial cycles, some of which will be explored in Volume 2. 


Bank of England Macroeconomic datasets Time series analysis Business and Financial Cycles Goods and Financial Markets GDP data Early business cycles The Victorian and Edwardian Economy The interwar economy The Managed Economy The Liberalised Economy The Great Financial Crisis and Recession of 2008

Authors and affiliations

  • Nicholas Dimsdale
    • 1
  • Ryland Thomas
    • 2
  1. 1.University of OxfordOxfordUK
  2. 2.Bank of EnglandLondonUK

Bibliographic information

Industry Sectors
Finance, Business & Banking