Abstract
In analyzing business cycles, economists have usually come to graspe the phenomenon in terms of cyclical fluctuations in the absolute values of economic variables, such as output and prices. And economic statisticans decompose economic time-series into its cyclical and time-trend parts, investigating each seperately. However, business cycles appear to be closely connected with economic growth, and both of these phenomena should be analyzed simultaneously in theoretical studies as well as in statistical examinations.
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References
See P. Cagan: The Monetary Dynamics of Hyperinflation, Studies in the Quantity Theory of Money, edited by M. Friedman, 1956, pp. 25–117, esp. pp. 55–57.
N. Kaldor: A Model of the Trade Cycle, Economic Journal, Vol. 50, March. 1940, pp. 78 –92.
R. M. Goodwin: The Nonlinear Accelerator and the Persistence of Business Cycles, Econometrica, Vol. 19, Jan. 1951, pp. 1 – 17.
R. M. Goodwin: A Model of Cyclical Growth, The Business Cycles in the Post-War World, edited by E. Lundberg, 1955, pp. 203–221. 6 )
S. Fujino: Business Cycles in Japan(in Japanese), 1965, esp. Ch. 23–26.
S. Fujino: Construction Cycles and Their Monetary-Financial Characteristics, Economic Growth — The Japanese Experience Since The Meiji Era — edited by L. R. Klein & K. Chkawa, 1968, pp. 35 – 68.
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© 1974 Springer-Verlag Berlin · Heidelberg
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Fujino, S. (1974). A Neo-Keynesian Theory of Growth Cycle. In: A Neo-Keynesian Theory of Inflation and Economic Growth. Lecture Notes in Economics and Mathematical Systems, vol 104. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-48150-5_4
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DOI: https://doi.org/10.1007/978-3-642-48150-5_4
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