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BL
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| Record Number
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862725
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| Main Entry
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Dimsdale, Nicholas H.
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| Title & Author
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UK business and financial cycles since 1660.\ Nicholas Dimsdale, Ryland Thomas.
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| Publication Statement
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Cham :: Palgrave Macmillan,, [2019]
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, ©2019
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| Page. NO
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1 online resource :: illustrations
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| ISBN
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3030263460
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: 9783030263461
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9783030263454
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| Bibliographies/Indexes
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Includes bibliographical references and index.
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| Contents
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Intro; Acknowledgements; Contents; List of Figures; List of Tables; 1 Introduction; References; 2 Business, Monetary and Credit Cycles in Theory; 2.1 Business Cycle Definition; 2.2 Impulse and Propagation of Business Cycles; 2.3 Classical Theories of the Business Cycle; 2.4 Classical Monetary and Credit Cycles; 2.5 Modern Theories of the Business Cycle; 2.5.1 The Post-WW2 Keynesian Multiplier-Accelerator View of the Cycle; 2.5.2 Monetarist and New Classical Monetary Cycles; 2.5.3 New Keynesian Business Cycles; 2.5.4 Real Business Cycles; 2.5.5 Financial and Credit Cycles
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2.6 Summary-Impulse, Propagation and Policy ResponseReferences; 3 Statistical and Econometric Analysis of the Cycle; 3.1 Aggregated or Disaggregated Data; 3.2 Classical Versus Growth Cycles-To De-trend or Not to De-trend?; 3.3 Methods of Determining Turning Points in Classic Cycles; 3.3.1 The Graphic or Algorithmic Approach; 3.3.2 The Statistical Approach-Markov-Switching Methods; 3.4 Methods of De-trending-Growth Cycles; 3.4.1 The Unobserved Components Model; 3.4.2 The Beveridge-Nelson Decomposition; 3.4.3 HP and Band-Pass Filters-Non-parametric Methods; References
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4 GDP Data for Analysing Business Cycles4.1 Background and Method; 4.2 Sources and Construction-Annual Data 1660-2018; 4.2.1 1948 Onwards; 4.2.2 1920-1948; 4.2.3 1870-1920; 4.2.4 1660-1870; 4.3 Quarterly and Monthly GDP Estimates; 4.4 Summary of GDP Data; References; 5 Metrics and Turning Points of Cycles 1660-2018; 5.1 Classical Cycle Metrics; 5.2 Growth Cycle Metrics; References; 6 A Narrative History of UK Business Cycles; 6.1 Prologue-The Emerging Market Economy 1660-1720; 6.1.1 Overview-Institutional Factors and Key Drivers; 6.1.2 The Birth of Modern Business Cycles 1660-1720
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6.2 The Long C18th 1720-18306.2.1 Overview-Institutional Factors and Key Drivers; 6.2.2 The Expansion of Empire 1720-1780; 6.2.3 The French Wars and the Restriction Period 1780-1830; 6.3 The Victorian and Edwardian Economy 1830-1913; 6.3.1 Overview-Institutional Factors and Key Drivers; 6.3.2 From Crisis to Crisis 1832-1867; 6.3.3 Industrial Apotheosis, Boom and Slump 1867-1879; 6.3.4 The Mature Industrial Economy 1880-1913; 6.4 The Interwar Economy 1919-1939; 6.4.1 Overview-Institutional Factors and Key Drivers; 6.4.2 WW1 and the 1921 Trough
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6.4.3 The Return to Gold and the Great Depression 1921-19326.4.4 The Recovery of the 1930s; 6.5 The Managed Economy 1945-1973; 6.5.1 Overview-Institutional Factors and Key Drivers; 6.5.2 The After-Effects of WW2 and the "Go-Stop" Cycles in the 1950s and 1960s; 6.5.3 Devaluation and Deflation in the Late 1960s; 6.6 The Liberalised Economy 1971-2018; 6.6.1 Overview-Institutional Factors and Key Drivers; 6.6.2 The Great Inflation and a Search for a Nominal Anchor 1971-1992; 6.6.3 The Great Stability 1992-2007
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| Abstract
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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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| Subject
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Business cycles-- Great Britain-- History.
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Business cycles.
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Economic history.
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| Subject
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Great Britain, Economic conditions.
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| Subject
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Great Britain.
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| Dewey Classification
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330.941
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| LC Classification
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HB3783.D56 2019eb
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| Added Entry
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Thomas, R., (Ryland)
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| Parallel Title
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Narrative overview
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