History

Is the chronology of business cycles produced by the National Bureau of Economic Research (NBER) (Table 1) widely accepted?

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Scholars in the early post–World War II period often distinguished "growth cycles," in which contractions were defined as a decline in the rate of GDP growth, from the less frequent business cycles, in which contractions were defined as decreases in GDP. Some held out hope that the business cycle could be replaced with less severe growth cycles.

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Similar questions: Did scholars in the early post–World War II period often distinguish "growth cycles" in which contractions were defined as a decline in the rate of GDP growth, from the less frequent business cycles, in which contractions were defined as decreases in GDP? Did some hold out hope that the business cycle could be replaced with less severe growth cycles? Did scholars in the early post–World War II period often distinguish "growth cycles"? [ Hide these questions ]

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