Poland’s business cycle in the context of the world cycle
<p>The analysis begins with a synthetic discussion of the current state of the business cycle theory. Three groups of current theories have been briefly discussed: the real business cycle theory, the Neoschumpeter theory and those formulated within the framework of the new Keynesian economy. A...
| Main Author: | |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Uniwersytet Mikołaja Kopernika
2009-12-01
|
| Series: | Ekonomia i Prawo |
| Subjects: | |
| Online Access: | http://apcz.umk.pl/czasopisma//index.php/EiP/article/view/7279 |
| _version_ | 1811329727678382080 |
|---|---|
| author | Barbara Polszakiewicz |
| author_facet | Barbara Polszakiewicz |
| author_sort | Barbara Polszakiewicz |
| collection | DOAJ |
| description | <p>The analysis begins with a synthetic discussion of the current state of the business cycle theory. Three groups of current theories have been briefly discussed: the real business cycle theory, the Neoschumpeter theory and those formulated within the framework of the new Keynesian economy. A common belief that deviations of production and employment from so-called natural levels are caused by various kinds of shocks of a random nature, coexists with these theories. This belief is characteristic of representatives of the new classical economy and of monetarists.</p><p>It was assumed in this article that proving the rhythmicallity of oscillations which occur in reality is a <em>sine qua non</em> condition<em> </em>for including them in the regularity of development. This rhythmicallity should express itself in a comparatively small differentiation of duration, i.e. the cycle period. After accepting a quite elaborate definition of a cycle, most justified from the theoretical point of view, its periods in American, German and Polish economies were analysed. A period was counted from the beginning of the phase of revival in one business cycle to the beginning of the phase of revival in the next one. A very close resemblance between the cycle course in Poland and the compared economies was found.</p> |
| first_indexed | 2024-04-13T15:49:00Z |
| format | Article |
| id | doaj.art-bece0805cfee47a6805847f26e69caa8 |
| institution | Directory Open Access Journal |
| issn | 1898-2255 2392-1625 |
| language | English |
| last_indexed | 2024-04-13T15:49:00Z |
| publishDate | 2009-12-01 |
| publisher | Uniwersytet Mikołaja Kopernika |
| record_format | Article |
| series | Ekonomia i Prawo |
| spelling | doaj.art-bece0805cfee47a6805847f26e69caa82022-12-22T02:40:53ZengUniwersytet Mikołaja KopernikaEkonomia i Prawo1898-22552392-16252009-12-015110311610.12775/EiP.2009.0076501Poland’s business cycle in the context of the world cycleBarbara Polszakiewicz0Nicolaus Copernicus University<p>The analysis begins with a synthetic discussion of the current state of the business cycle theory. Three groups of current theories have been briefly discussed: the real business cycle theory, the Neoschumpeter theory and those formulated within the framework of the new Keynesian economy. A common belief that deviations of production and employment from so-called natural levels are caused by various kinds of shocks of a random nature, coexists with these theories. This belief is characteristic of representatives of the new classical economy and of monetarists.</p><p>It was assumed in this article that proving the rhythmicallity of oscillations which occur in reality is a <em>sine qua non</em> condition<em> </em>for including them in the regularity of development. This rhythmicallity should express itself in a comparatively small differentiation of duration, i.e. the cycle period. After accepting a quite elaborate definition of a cycle, most justified from the theoretical point of view, its periods in American, German and Polish economies were analysed. A period was counted from the beginning of the phase of revival in one business cycle to the beginning of the phase of revival in the next one. A very close resemblance between the cycle course in Poland and the compared economies was found.</p>http://apcz.umk.pl/czasopisma//index.php/EiP/article/view/7279business cycle theory |
| spellingShingle | Barbara Polszakiewicz Poland’s business cycle in the context of the world cycle Ekonomia i Prawo business cycle theory |
| title | Poland’s business cycle in the context of the world cycle |
| title_full | Poland’s business cycle in the context of the world cycle |
| title_fullStr | Poland’s business cycle in the context of the world cycle |
| title_full_unstemmed | Poland’s business cycle in the context of the world cycle |
| title_short | Poland’s business cycle in the context of the world cycle |
| title_sort | poland s business cycle in the context of the world cycle |
| topic | business cycle theory |
| url | http://apcz.umk.pl/czasopisma//index.php/EiP/article/view/7279 |
| work_keys_str_mv | AT barbarapolszakiewicz polandsbusinesscycleinthecontextoftheworldcycle |