Postwar U.S. Business Cycles: An Empirical Investigation

Robert J. Hodrick, Edward C. Prescott

Research output: Chapter in Book/Report/Conference proceedingChapter

2 Scopus citations


THE PURPOSE OF THIS ARTICLE is to document some features of aggregate economic fluctuations sometimes referred to as business cycles. The investigation uses quarterly data from the postwar U. S. economy. The fluctuations studied are those that are too rapid to be accounted for by slowly changing demo­ graphic and technological factors and changes in the stocks of capital that produce secular growth in output per capita.

Original languageEnglish (US)
Title of host publicationReal business cycles
Subtitle of host publicationA Reader
PublisherTaylor and Francis
Number of pages16
ISBN (Electronic)9781134694792
ISBN (Print)0415165687
StatePublished - Jan 1 2013
Externally publishedYes

ASJC Scopus subject areas

  • Economics, Econometrics and Finance(all)
  • Business, Management and Accounting(all)


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