Fluctuations in the Level of Employment and the Role of the Government

  • J. Harvey
  • M. Johnson


We have now developed a simple macro-model of the economy. What we have sought to explain are the cyclical fluctuations depicted by the broken line in the following diagram. The upward trend of the unbroken line represents secular growth (see Chapters 19 and 20).


Monetacy Policy Trade Cycle National Income Full Employment Cyclical Fluctuation 
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Copyright information

© J. Harvey and Janet Johnson 1973

Authors and Affiliations

  • J. Harvey
    • 1
  • M. Johnson
    • 2
  1. 1.University of ReadingUK
  2. 2.Hatfield PolytechnicUK

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