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UK Business and Financial Cycles Since 1660 - Volume I: A Narrative Overview (Hardcover, 1st ed. 2019)
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UK Business and Financial Cycles Since 1660 - Volume I: A Narrative Overview (Hardcover, 1st ed. 2019)
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This book is the first of two volumes that aim to provide an
up-to-date overview of the key data and techniques necessary for
analysing the historical behaviour of business and financial cycles
in the United Kingdom. Drawing on an extensive secondary literature
and the considerable body of historical macroeconomic and financial
time series data that exist for the United Kingdom, the two volumes
will review the key features of historical recessions and
recoveries over the course of three and a half centuries. Volume 1
provides an overview of UK business cycles since 1660. The first
part of the book considers old and new theories of the business
cycle, looking at the impulses that generate business cycles and
the propagation mechanisms that determine their duration and
amplitude. The second part of the book uses the latest historical
estimates of GDP to look at different ways of measuring and
estimating business cycle fluctuations within a simple univariate
framework. Finally, the book provides a narrative of UK economic
fluctuations since 1660 using a whole range of economic data to
shed light on the main drivers of cyclical behaviour. It concludes
by highlighting areas for future research especially with regard to
the link between business and financial cycles, some of which will
be explored in Volume 2.
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