Economics 2152A/B Lecture Notes - National Bureau Of Economic Research, Business Cycle
Document Summary
Seasonal cycle output varies over the seasons, q1, q2, q3, and q4 not much concern with economies and raw data normally seasonally adjusted to remove the seasonality factor. Business cycle is due to arthur burns and wesly mitchell, measuring business cycle 1946, nber (national bureau of economic research, usa) All business cycles have some common features: the cyclical behaviour, direction. A cyclical (no clear pattern: the cyclical behaviour, timing. ), due to lose of training, experience, etc: and due to lose of market share due to competitors from abroad. A rule-of-thumb in declaring a recession is that gdp declines for 2 quarters in a row. [however, gdp may decline for reasons other such as labour dispute, drought, etc. ] Stat canada must wait for some time to pass before they can declare the start or end of a recession. Due to lag in collecting compiling and analysing data.