A century of research on property cycles – a review of research on major and auxiliary business cycles.

Jadevicius, Arvydas; Sloan, Brian; Brown, Andrew

Abstract

The existence of cycles within economy and its sub-sectors has been studied for a number of years. The importance of cycles has grown to have significant importance in the major capitalistic countries, seeing cycles as having a negative impact on the aggregate output of these economies. As a result, economists and scholars attempted to research this phenomenon in the belief that a better understanding of the cyclical nature of the economy would prevent cycles from happening in the future. Various theories have been developed to explain the regularity of business cycles. The aim of this paper is to discuss the major types of cycles found in the literature. There are four major and eight auxiliary cycles. The review presents a discussion on their general characteristics, and the key forces that produce these cycles. Concluding remarks summarise the discussion and present key findings.

Citation

Jadevicius, A., Sloan, B., & Brown, A. (2010, September). A century of research on property cycles – a review of research on major and auxiliary business cycles. Paper presented at XI BSV International Conference on Valuation and Investment,

• Presentation Conference Type: Conference Paper (unpublished)
• Conference Name: XI BSV International Conference on Valuation and Investment,
• Start Date: Sep 23, 2010
• End Date: Sep 24, 2010
• Publication Date: Sep 23, 2010
• Deposit Date: Mar 12, 2012
• Publicly Available Date: Mar 12, 2012
• Peer Reviewed: Peer Reviewed
• Pages: 1-17
• Keywords: Business; cycle; literature review
• Public URL: http://researchrepository.napier.ac.uk/id/eprint/5065