Product Review

Presents the empirical data of business cycles and the theories that economists have developed to explain and prevent them, and considers case studies of recessions and depressions in the United States and internationally.

• Features four primary forecasting techniques and assesses the effectiveness of these methods in forecasting actual business cycles

• Examines the reasons behind the lessening frequency of recessions in postwar America

• Makes the subject of economic crises timely and relevant by addressing the recent global financial crisis and the European debt crisis

• Reveals how the collapse of the housing market led to a credit crunch and a global economic slowdown