The (non) existence of economic cycles
2016
Rozans, E., University of Latvia, Riga (Latvia). Faculty of Business, Management and Economics
Although over the years there has been a lot of research done on the subject of possibility of existence of economic cycles, none of it has given convincing results to confirm them. So for the moment being it is quite safe to agree with the common view among mainstream economists that discredit the idea of them. That is also confirmed given that interest in the different typologies of economic cycles has diminished significantly with the progress of modern macroeconomics, which does not give a support to the idea of regular periodic economic cycles. Nevertheless, given exponentially growing vast and unexplored data nowadays that is becoming available in different scientific fields, giving also room for inter-disciplinary research, it could prove to be too early to call the concept of economic cycles impossible.
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