Cyclicity - Unavoidable Process in the Economic Evolution

Abstract

In general, conditions of economic nature undergo changes; moderate expansions give often birth to inflation and it turn to recessions. Lately more and more economists have tried to approach a series of aspects concerned with the development of business cycle at macro-economic level, the relationship existing between business cycle at macro-economic level and business cycle specific to micro-economic one. When identifying a business cycle special attention is given to the periods in which the economic activity declines. The phases of cyclic movement are mutually conditioned and prepare in time the pr.

Keywords

• Cycle
• cyclicity
• fluctuations
• productivity