Journal Article

A primer on the nature of business cycles


Abstract: Discussions of the effects of monetary and fiscal policy sometimes center on the impact of such policies in ameliorating fluctuations associated with the business cycle. However, though familiar with the term \\"business cycle,\\" many people are not aware of what it refers to exactly. In this article, Gregory Huffman presents an explanation of the term and provides a detailed illustration of post-World War II U.S. business cycles. He also contrasts the behavior of various U.S. economic time series over the business cycle with similar Canadian statistics and points out some apparent anomalies in the data.

Keywords: Monetary policy; Time-series analysis; Business cycles;

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Bibliographic Information

Provider: Federal Reserve Bank of Dallas

Part of Series: Economic and Financial Policy Review

Publication Date: 1994

Issue: Q I

Pages: 27-41