Fluctuations in Economic Activity

  • D. C. Rowan


In Chapter 19 we developed an account of the process whereby, over the long run, the capacity of the economy to produce output grows. In this chapter we consider why, as a matter of observation, the growth path followed by the economy involves fluctuations in the extent to which, in any given year, the available capacity is utilised. The problem of economic fluctuations is often discussed under the heading of the theory of economic cycles. What then is a cycle?


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Suggested Reading

  1. R. C. O. Matthews, The Trade Cycle (Cambridge, 1959) particularly chs i–iii.Google Scholar
  2. A. H. Hansen, Business Cycles and National Income (Allen & Un win, 1964) chs ix–xii.Google Scholar
  3. J. C. R. Dow, The Management of the British Economy, 1945–60 (Cambridge, 1964) chs xiv–xv.Google Scholar
  4. F. W. Paish, Studies in an Inflationary Economy (Macmillan, 1966) ch. xvii.Google Scholar
  5. F. R. Brechling and J. N. Wolfe, ‘The End of Stop-Go’, Lloyds Bank Review (Jan 1965).Google Scholar
  6. J. M. Keynes, The General Theory of Employment, Interest and Money (Macmillan, 1936) ch. xxii.Google Scholar
  7. P. N. Junankar, Investment: Theories and Evidence (Macmillan, 1972) chs 3, 6.CrossRefGoogle Scholar
  8. G. Haberler,† Prosperity and Depression (United Nations, 1946) introduction, chs i, viii.Google Scholar

Copyright information

© D. C. Rowan 1974

Authors and Affiliations

  • D. C. Rowan
    • 1
  1. 1.University of SouthamptonUK

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