ABSTRACT
Experts define, review, and evaluate economic fluctuations Economic and business uncertainty dominate today's economic analyses. This new Encyclopedia illuminates the subject by offering 323 original articles on every major aspect of business cycles, fluctuations, financial crises, recessions, and depressions. The work of more than 200 experts, including many of the leading researchers in the field, the articles cover a broad range of subjects, including capsule biographies of leading economists born before 1920. Individual entries explore banking panics, the cobweb cycle, consumer durables, the depression of 1937-1938, Otto Eckstein, Friedrich Engels, experimental price bubbles, forced savings, lass-Steagall Act, Friedrich hagen, qualitative indicators, use of macro-econometric models, monetary neutrality, Phillips Curve, Paul Samuelson, Say's law, supply-side recessions, James Tokin, trend and random wages, Thorstein Veblen, worker-job turnover, and more.
TABLE OF CONTENTS
letter 1|26 pages
A
entry 1|2 pages
Abramovitz, Moses (1912–)
entry 1|2 pages
Acceleration Principle
entry 1|1 pages
Aftalion, Albert (1874–1956)
entry 1|3 pages
Aggregate Supply and Demand
entry 1|2 pages
Agriculture and Business Cycles
entry 1|1 pages
Akerman, Johan Henrik (1896–1982)
entry 1|4 pages
Allais, Maurice (1911-)
entry 1|1 pages
Amoroso, Luigi (1886–1965)
entry 1|3 pages
Angell, James Waterhouse (1898–1986)
entry 1|1 pages
Asymmetry
entry 1|1 pages
Attwood, Thomas (1783–1856)
entry 1|4 pages
Austrian Theory of Business Cycles
entry 1|1 pages
Ayres, Clarence Edwin (1891–1972)
letter 2|50 pages
B
entry 2|3 pages
Bagehot, Walter (1826–1877)
entry 2|2 pages
Bank Charter Act of 1844
entry 2|6 pages
Bank of England
entry 2|3 pages
Bank of France
entry 2|1 pages
Bank of United States
entry 2|2 pages
Banking and Financial Regulation
entry 2|2 pages
Banking Panics
entry 2|2 pages
Banking School, Currency School, and Free Banking School
entry 2|2 pages
Baring Crisis (1890)
entry 2|1 pages
Bauer, Otto (1881–1938)
entry 2|1 pages
Bernstein, Eduard (1850–1932)
entry 2|1 pages
Böhm-Bawerk, Eugen Ritter von (1851–1914)
entry 2|2 pages
Brunner, Karl (1916–1989)
entry 2|2 pages
Bullionist Controversies
entry 2|1 pages
Bullock, Charles Jesse (1869–1941)
entry 2|1 pages
Burchardt, Fritz (Frank) Adolph (1902–1958)
entry 2|2 pages
Burns, Arthur Frank (1904–1987)
entry 2|10 pages
Business Cycles
entry 2|3 pages
Business Cycles in Russia (1700–1914)
entry 2|3 pages
Business Cycles in Socialist Economics
letter 3|59 pages
C
entry 3|2 pages
Cantillon, Richard (1680/90–1734/36)
entry 3|3 pages
Capital Goods
entry 3|2 pages
Cassel, Carl Gustav (1866–1945)
entry 3|3 pages
Catchings, Waddill (1879–1968)
entry 3|3 pages
Central Banking
entry 3|1 pages
Chaos and Bifurcations
entry 3|7 pages
Chaos, Continuous-Time Models of
entry 3|1 pages
Clearinghouses
entry 3|1 pages
Cobweb Cycle
entry 3|5 pages
Cointegration
entry 3|2 pages
Commons, John Rogers (1862–1945)
entry 3|3 pages
Composite and Diffusion Indexes
entry 3|1 pages
Composite Trends
entry 3|3 pages
Consumer Durables
entry 3|3 pages
Consumption Expenditures
entry 3|1 pages
Coquelin, Charles (1802–1852)
entry 3|1 pages
Creative Destruction
entry 3|1 pages
Credit-Anstalt
entry 3|2 pages
Credit Cycle
entry 3|1 pages
Crises of 1763 and 1772–1773
entry 3|1 pages
Crisis of The 1780s
entry 3|1 pages
Crisis of 1819
entry 3|3 pages
Crisis of 1825
entry 3|4 pages
Crisis of 1857
entry 3|2 pages
Crisis of 1866
entry 3|1 pages
Crisis of 1893
entry 3|2 pages
Crisis of 1914
letter 4|45 pages
D
entry 4|2 pages
Davis, Harold Thayer (1892–1974)
entry 4|1 pages
Debt-Deflation Theory
entry 4|2 pages
De Foville, Alfred (1842–1913)
entry 4|2 pages
Demand for Currency
entry 4|2 pages
Demand for Money
entry 4|2 pages
Depression of 1873–1879
entry 4|2 pages
Depression of 1882–1885
entry 4|3 pages
Depression of 1920–1921
entry 4|2 pages
Depression of 1937–1938
entry 4|2 pages
Deutsche Bundesbank
entry 4|6 pages
Differential and Difference Equations
entry 4|1 pages
Disintermediation
entry 4|3 pages
Disproportionality Theory
entry 4|5 pages
Distributed Lags
entry 4|4 pages
Divisia Monetary Aggregates
entry 4|2 pages
Douglas, Clifford Hugh (1879–1952)
entry 4|1 pages
Duesenberry, James Stemble (1918–)
entry 4|3 pages
Dynamic Decentralization
letter 5|25 pages
E
entry 5|3 pages
Eckstein, Otto (1927–1984)
entry 5|1 pages
Effective Demand
entry 5|5 pages
Efficiency Wages
entry 5|3 pages
Electoral Cycle in Monetary Policy
entry 5|1 pages
Ellis, Howard Sylvester (1898–1992)
entry 5|2 pages
Endogenous and Exogenous Money
entry 5|2 pages
Engels, Friedrich (1820–1895)
entry 5|1 pages
Equity Premium
entry 5|2 pages
Error Correction
entry 5|3 pages
Expectations
entry 5|2 pages
Experimental Price Bubbles
letter 6|49 pages
F
entry 6|3 pages
Falling Rate of Profit
entry 6|3 pages
Falling Rate of Profit, Empirical Tests
entry 6|1 pages
Fanno, Marco (1878–1965)
entry 6|2 pages
Federal Deposit Insurance
entry 6|2 pages
Federal Reserve system: 1914–1941
entry 6|5 pages
Federal Reserve system: 1941–1993
entry 6|1 pages
Fellner, William John (1905–1983)
entry 6|4 pages
Filters
entry 6|2 pages
Financial Intermediation
entry 6|5 pages
Fiscal Policy
entry 6|2 pages
Fisher, Irving (1867–1947)
entry 6|1 pages
Föhl, Carl (1901–1973)
entry 6|3 pages
Forced Saving
entry 6|1 pages
Foster, William Trufant (1879–1950)
entry 6|2 pages
Free Banking
entry 6|3 pages
Friedman, Milton (1912–)
entry 6|2 pages
Frisch, Ragnar Anton Kittel (1896–1973)
entry 6|2 pages
Fullarton, John (1780–1849)
entry 6|4 pages
Full Information Maximum Likelihood
entry 6|1 pages
Functional Finance
letter 7|30 pages
G
entry 7|2 pages
Gesell, Silvio (1862–1930)
entry 7|1 pages
Gilbert, James William (1794–1863)
entry 7|1 pages
Glass-Steagall Act
entry 7|3 pages
Gold Standard
entry 7|5 pages
Gold Standard: Causes and Consequences
entry 7|3 pages
Goodwin, Richard Murphey (1913–)
entry 7|2 pages
Great Depression in Britain (1929–1932)
entry 7|3 pages
Great Depression in France (1929–1938)
entry 7|6 pages
Great Depression in the United States (1929–1938)
entry 7|3 pages
Great Depression of 1873–1896
entry 7|1 pages
Growth Cycles
letter 8|25 pages
H
entry 8|2 pages
Haavelmo, Trygve (1911–)
entry 8|2 pages
Haberler, Gottfried [von] (1900–1994)
entry 8|1 pages
Hahn, Lucian Albert (1889–1968)
entry 8|2 pages
Hansen, Alvin Harvey (1886–1975)
entry 8|3 pages
Harrod, Roy Forbes (1900–1978)
entry 8|2 pages
Hawtrey, Ralph George (1879–1975)
entry 8|3 pages
Hayek, Friedrich August [von] (1899–1992)
entry 8|3 pages
Hicks, John Richard (1904–1989)
entry 8|1 pages
Hilferding, Rudolf (1877–1941)
entry 8|1 pages
Hobson, John Atkinson (1858–1940)
entry 8|3 pages
Hong Kong Financial Crisis (1983)
entry 8|1 pages
Hume, David (1711–1776)
entry 8|1 pages
Hutt, William Harold (1899–1988)
letter 9|23 pages
I
entry 9|3 pages
Implicit Contracts
entry 9|2 pages
Impulse and Propagation
entry 9|2 pages
Incomplete Markets
entry 9|3 pages
Index Numbers
entry 9|1 pages
Indicators, Qualitative
entry 9|2 pages
Industrial Revolution (c. 1750–1850)
entry 9|1 pages
Inflation
entry 9|2 pages
Interest Rates
entry 9|2 pages
International Lender of Last Resort
entry 9|3 pages
Intertemporal Substitution
entry 9|3 pages
Investment
letter 10|8 pages
J
entry 10|2 pages
Jevons, William Stanley (1835–1882)
entry 10|2 pages
Johannsen, Nicholas August Ludwig Jacob (1844–1928)
entry 10|1 pages
Joplin, Thomas (c. 1790–1847)
entry 10|2 pages
Juglar, Clément (1819–1905)
entry 10|1 pages
Juglar Cycle
letter 11|24 pages
K
entry 11|3 pages
Kaldor, Nicholas (1908–1986)
entry 11|3 pages
Kalecki, Michal (1899–1970)
entry 11|1 pages
Kautsky, Karl (1854–1938)
entry 11|3 pages
Keynes, John Maynard (1883–1946)
entry 11|2 pages
Kindleberger, Charles Poor (1910–)
entry 11|1 pages
Kitchin Cycle
entry 11|3 pages
Klein, Lawrence Robert (1920–)
entry 11|2 pages
Kondratieff Cycles
entry 11|2 pages
Kondratieff, Nikolai Dmitriyevich (1892–1938)
entry 11|2 pages
Koopmans, Tjalling Charles (1910–1985)
entry 11|2 pages
Kuznets, Simon Smith (1901–1985)
letter 12|46 pages
L
entry 12|2 pages
Lachmann, Ludwig Maurits (1906–1992)
entry 12|1 pages
Lalor, John (1814–1856)
entry 12|2 pages
Lange, Oskar (1904–1965)
entry 12|1 pages
Lavington, Frederick (1881–1927)
entry 12|2 pages
Law, John (1671–1729)
entry 12|3 pages
LDC Crisis
entry 12|3 pages
Leading Indicators: Historical Record
entry 12|1 pages
Leads and Lags
entry 12|3 pages
Learning
entry 12|2 pages
Lender of Last Resort
entry 12|2 pages
Lerner, Abba (1903–1982)
entry 12|2 pages
Lewis, William Arthur (1915–1991)
entry 12|1 pages
Lindahl, Erik Robert (1891–1960)
entry 12|3 pages
Liquidity Premium
entry 12|4 pages
Loanable-Funds Doctrine
entry 12|2 pages
Long-Wave Theories
entry 12|3 pages
Lowe, Adolph (1893–1995)
entry 12|1 pages
Loyd, Samuel Jones (1796–1883)
entry 12|3 pages
Lucas Critique
entry 12|2 pages
Lundberg, Erik Filip (1907–1987)
entry 12|1 pages
Lutz, Friedrich August (1901–1975)
entry 12|2 pages
Luxemburg, Rosa (1871–1919)
letter 13|56 pages
M
entry 13|3 pages
Macroeconometric Models, Historical Development
entry 13|4 pages
Macroeconometric Models, Use of
entry 13|2 pages
Malthus, Thomas Robert (1766–1834)
entry 13|2 pages
Market Price Indicators
entry 13|1 pages
Marshall, Alfred (1842–1924)
entry 13|2 pages
Marx, Karl Heinrich (1818–1883)
entry 13|1 pages
Mattick, Paul (1904–1981)
entry 13|1 pages
Metzler, Lloyd Appleton (1913–1980)
entry 13|2 pages
Mill, John Stuart (1806–1873)
entry 13|1 pages
Mills, Frederick Cecil (1892–1964)
entry 13|1 pages
Mills, John (1821–1896)
entry 13|1 pages
Minsky, Hyman Phillip (1919–)
entry 13|1 pages
Mintz, Ilse Schueller (1904–1978)
entry 13|2 pages
Mises, Ludwig Edler von (1881–1973)
entry 13|2 pages
Mississippi Bubble
entry 13|2 pages
Mitchell, Wesley Clair (1874–1948)
entry 13|3 pages
Model Evaluation and Design
entry 13|1 pages
Modigliani, Franco (1918–)
entry 13|4 pages
Monetary Disequilibrium Theories of the Business Cycle
entry 13|3 pages
Monetary Equilibrium Theories of the Business Cycle
entry 13|3 pages
Monetary Policy
entry 13|2 pages
Monetary Reform
entry 13|3 pages
Money-lncome Causality
entry 13|2 pages
Moore, Geoffrey Hoyt (1914–)
entry 13|2 pages
Moore, Henry Ludwell (1869–1958)
entry 13|1 pages
Moving Averages
entry 13|2 pages
Multiplier
entry 13|1 pages
Mushet, Robert (1782–1828)
entry 13|1 pages
Myrdal, Gunnar (1898–1987)
letter 14|21 pages
N
entry 14|2 pages
Napoleonic Wars
entry 14|3 pages
NaturaI Rate of Interest
entry 14|2 pages
Natural Rate of Unemployment
entry 14|3 pages
Neutrality of Money
entry 14|3 pages
New Keynesian Economics
entry 14|2 pages
New Monetary Economics
entry 14|3 pages
Nonlinear Business-Cycle Theories
entry 14|3 pages
Nonlinear Statistical Inference
letter 15|13 pages
O
entry 15|3 pages
Ohlin, Bertil Gotthard (1899–1979)
entry 15|2 pages
Okun, Arthur M. (1928–1980)
entry 15|1 pages
Option Clause
entry 15|2 pages
Overend, Gurney Crisis (1866)
entry 15|2 pages
Overinvestment Theories of Business Cycles
entry 15|3 pages
Oversaving Theories of Business Cycles
letter 16|41 pages
P
entry 16|4 pages
Panic of 1825
entry 16|2 pages
Panic of 1837
entry 16|2 pages
Panic of 1893
entry 16|2 pages
Pareto, Vilfredo (1848–1923)
entry 16|1 pages
Parnell, Henry Brooke (1776–1842)
entry 16|1 pages
Period of Production
entry 16|2 pages
Persons, Warren Milton (1878–1937)
entry 16|1 pages
Pervushin, Sergei Alekseevich (1888-?)
entry 16|2 pages
Phase Averaging
entry 16|2 pages
Phillips, Alban William Housego (1914–1975)
entry 16|3 pages
Phillips Curve
entry 16|2 pages
Pigou, Arthur Cecil (1877–1959)
entry 16|2 pages
Pigou-Haberler Effect
entry 16|2 pages
Political Business Cycle
entry 16|2 pages
Post-Keynesian Business-Cycle Theory
entry 16|1 pages
Preobrazhensky, Evgenii Alexeyevich (1886–1937)
entry 16|3 pages
Price-Quantity Adjustment
entry 16|3 pages
Price Rigidity
entry 16|2 pages
Profit Squeeze
entry 16|2 pages
Pump-Priming
letter 18|40 pages
R
entry 18|3 pages
Rational Expectations
entry 18|2 pages
Real-Bills Doctrine
entry 18|3 pages
Real Business-Cycle Theories
entry 18|3 pages
Real Wages
entry 18|3 pages
Recession of 1969–1970
entry 18|3 pages
Recessions after World War II
entry 18|4 pages
Recessions (Supply-Side) in the 1970s
entry 18|2 pages
Regulation School
entry 18|2 pages
Reichsbank
entry 18|3 pages
Ricardian Equivalence
entry 18|2 pages
Ricardo, David (1772–1823)
entry 18|2 pages
Robbins, Lionel Charles (1898–1984)
entry 18|2 pages
Robertson, Dennis Holme (1890–1963)
entry 18|2 pages
Robinson, Joan Violet Maurice (1903–1983)
entry 18|1 pages
Röpke, Wilhelm (1899–1966)
entry 18|2 pages
Rostow, Walt Whitman (1916–)
entry 18|1 pages
Rueff, Jacques (1896–1978)
letter 19|80 pages
S
entry 19|3 pages
Samuelson, Paul Anthony (1913–)
entry 19|2 pages
Saving Equals Investment
entry 19|2 pages
Say, Jean-Baptiste (1767–1832)
entry 19|3 pages
Say's Law
entry 19|4 pages
Schumpeter, Joseph Alois (1883–1950)
entry 19|1 pages
Schwartz, Anna Jacobson (1915–)
entry 19|2 pages
Search Theory
entry 19|3 pages
Seasonal Adjustment
entry 19|1 pages
Seasonal Cycles
entry 19|3 pages
Seasonal Fluctuations and Financial Crises
entry 19|2 pages
Sectoral Shifts
entry 19|2 pages
Serial Correlation
entry 19|2 pages
Shackle, George Lennox Sharman (1903–1993)
entry 19|3 pages
Signal Extraction
entry 19|2 pages
Sismondi, Jean Charles Leonard Simonde de (1773–1842)
entry 19|1 pages
Slutsky, Eugen (1880–1948)
entry 19|1 pages
Smith, Adam (1727–1790)
entry 19|1 pages
Smithies, Arthur (1907–1981)
entry 19|2 pages
Smoot-Hawley Tariff
entry 19|2 pages
Snyder, Carl (1869–1946)
entry 19|2 pages
Social Structure of Accumulation
entry 19|2 pages
Soddy, Frederick (1877–1956)
entry 19|2 pages
South Sea Bubble
entry 19|2 pages
Spectral Analysis
entry 19|1 pages
Spiethoff, Arthur (1873–1957)
entry 19|1 pages
Sprague, Oliver Mitchell Wentworth (1873–1953)
entry 19|3 pages
Sraffa, Piero (1898–1983)
entry 19|2 pages
Stable Paretian Distributions
entry 19|2 pages
State-Monopoly Capitalism
entry 19|2 pages
Steindl, Josef (1912–1993)
entry 19|2 pages
Stockholm School
entry 19|1 pages
Stock-Market Crash of 1929
entry 19|4 pages
Stock-Market Crashes of 1987 and 1989
entry 19|3 pages
Stock-Market Prices
entry 19|2 pages
Stylized Facts
entry 19|2 pages
Sunspot Theories of Fluctuations
entry 19|3 pages
Supply of Money
entry 19|2 pages
Supply Shocks
entry 19|1 pages
Sweezy, Paul Marlor (1910–)
letter 20|29 pages
T
entry 20|4 pages
Taste Shocks
entry 20|2 pages
Term Structure of Interest Rates
entry 20|1 pages
Thomas, Brinley (1906–)
entry 20|2 pages
Thornton, Henry (1760–1815)
entry 20|1 pages
Thorp, Willard Long (1899–1992)
entry 20|3 pages
Thrift Crisis
entry 20|2 pages
Time Reversibility
entry 20|2 pages
Tinbergen, Jan (1903–1994)
entry 20|1 pages
Tintner, Gerhard (1907–1983)
entry 20|4 pages
Tobin, James (1918–)
entry 20|2 pages
Tooke, Thomas (1774–1858)
entry 20|1 pages
Torrens, Robert (1780–1864)
entry 20|1 pages
Trends and Random Walks
entry 20|2 pages
Tugan-Baranovsky, Mikhail Ivanovich (1865–1919)
entry 20|2 pages
Tulipmania
letter 21|5 pages
U
entry 21|3 pages
Unemployment
entry 21|2 pages
Unit Root Tests
letter 22|5 pages
V
entry 22|2 pages
Veblen, Thorstein (1857–1929)
entry 22|3 pages
Vector Autoregressions
letter 23|11 pages
W
entry 23|3 pages
Wage Rigidity
entry 23|1 pages
Walras's Law
entry 23|1 pages
Warburton, Clark (1896–1979)
entry 23|2 pages
Wicksell, Johan Gustav Knut (1851–1926)
entry 23|2 pages
Worker and Job Turnover
entry 23|2 pages
Woytinsky, Wladimir Savelievich (1885–1960)
letter 24|2 pages
Z
entry 24|2 pages
Zarnowitz, Victor (1919–)
