No More Trade Cycles?
Since the Second World War, the trade cycle has undergone a profound change of character. In this final chapter, we outline the main features of this change, and discuss whether ‘demise’ would be a better word. We then consider whether stabilisation policies have helped or hindered this change, and end with a few remarks about the relevance of the econometric approach of Chapter 4 to the formulation of satisfactory stabilisation policies.
Unable to display preview. Download preview PDF.