Abstract
There is a long tradition in macroeconomics of treating growth and cycles as distinct phenomena. However, various economists have also recognized the virtue of incorporating the two forces into a single framework and to study the way they are related. This article reviews this literature, with emphasis on attempts not only to integrate growth and cycles into a single framework but also to endogenize growth, cycles, or both.
Keywords
- Capital accumulation
- Endogenous growth
- Growth and cycles
- Innovation
- Kydland, F.
- Prescott, E.
- Ramsey model
- Research and development
- Risk
- Technical change
- Precautionary savings
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Barlevy, G. (2018). Growth and Cycles. In: The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-349-95189-5_1234
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DOI: https://doi.org/10.1057/978-1-349-95189-5_1234
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