Dating business cycles in the United Kingdom, 1700–2010

Broadberry, Stephen, Chadha, Jagjit S., Lennard, Jason ORCID: 0000-0002-6700-8969 and Thomas, Ryland (2023) Dating business cycles in the United Kingdom, 1700–2010. Economic History Review, 76 (4). 1141 - 1162. ISSN 0013-0117

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Abstract

This paper constructs a new chronology of the business cycle in the United Kingdom from 1700 on an annual basis and from 1920 on a quarterly basis to 2010. The new chronology points to several observations about the business cycle. First, the cycle has significantly increased in duration and amplitude over time. Second, contractions have become less frequent but are as persistent and costly as at other times in history. Third, the typical recession has been tick-shaped with a short contraction and longer recovery. Finally, the major causes of downturns have been sectoral shocks, financial crises, and wars.

Item Type:	Article
Official URL:	https://onlinelibrary.wiley.com/journal/14680289
Additional Information:	© 2023 The Authors
Divisions:	Economic History
Subjects:	H Social Sciences > HC Economic History and Conditions
JEL classification:	N - Economic History > N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations > N14 - Europe: 1913- N - Economic History > N1 - Macroeconomics and Monetary Economics; Growth and Fluctuations > N13 - Europe: Pre-1913 E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles
Date Deposited:	14 Dec 2022 10:39
Last Modified:	18 Nov 2024 08:21
URI:	http://eprints.lse.ac.uk/id/eprint/117600

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