We are now living in a period of disillusion in the ability of
economic policy to stabilise the economy. This is proven by the
onset of severe world recession in the early 1980s and the
inability to invert the negative phase of the business cycle under
way in the industrialized countries in the early 1990s. The failure
of old policies motivates the research into the causes of economic
fluctuations and their measurement whose results are published in
this volume
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