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Clément Juglar
Clément Juglar (15 October 1819 – 28 February 1905) was a French medical doctor and statistician. Juglar cycles He was one of the first to develop an economic theory of business cycles.The New Encyclopædia Britannica: Macropaedia 1998 "The first authority to explore economic cycles as periodically recurring phenomena was probably a French physician, Clément Juglar, in 1860." He identified the fixed investment cycle of six to ten years that is now associated with his name. Within the Juglar cycle one can observe oscillations of investments into fixed capital and not just changes in the level of employment of the fixed capital (and respective changes in inventories), as is observed with respect to Kitchin cycles. Juglar's impact Juglar's publications led to other business cycle theories by later economists such as Joseph Schumpeter. Publications of Clément Juglar *"Des crises commerciales", 1856, in ''Annuaire de l'economie politique''.''Des Crises commerciales et leur ret ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Juglar Cycle
The Juglar cycle is a fixed investment cycle of 7 to 11 years identified in 1862 by Clément Juglar. Within the Juglar cycle one can observe oscillations of investments into fixed capital and not just changes in the level of employment of the fixed capital (and respective changes in inventories), as is observed with respect to Kitchin cycles. 2010 research employing spectral analysis confirmed the presence of Juglar cycles in world GDP dynamics.See, e.g. See also * Fixed investment *Business cycle Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, governmen ... References Further reading * * {{cite book , last=Morgan , first=Mary S. , author-link=Mary S. Morgan , title=The History of Econometric Ideas , location=New York , publisher=Cambridge University Press , year=1990 , isbn=0-521-37398 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Cycle
Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are many definitions of a business cycle. The simplest defines recessions as two consecutive quarters of negative GDP growth. More satisfactory classifications are provided by, first including more economic indicators and second by looking for more data patterns than the two quarter definition. In the United States, the National Bureau of Economic Research oversees a Business Cycle Dating Committee that defines a recession as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." Business cycles are usually thought of as medium-term ev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Investment
Fixed investment in economics is the purchase of newly produced physical asset, or, fixed capital. It is measured as a flow variable – that is, as an amount per unit of time. Thus, fixed investment is the sum of physical assets such as machinery, land, buildings, installations, vehicles, or technology. Normally, a company balance sheet will state both the amount of expenditure on fixed assets during the quarter or year, and the total value of the stock of fixed assets owned. Fixed investment contrasts with investments in labour, ongoing operating expenses, materials or financial assets. Financial assets may also be held for a fixed term (for example, bonds) but they are not usually called "fixed investment" because they do not involve the purchase of physical fixed assets. The more usual term for such financial investments is "fixed-term investments". Bank deposits committed for a fixed term such as one or two years in a savings account are similarly called "fixed-term deposi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Capital
In accounting, fixed capital is any kind of real, physical asset that is used repeatedly in the production of a product. In economics, fixed capital is a type of capital good that as a real, physical asset is used as a means of production which is durable or isn't fully consumed in a single time period.Varri P. (1987) Fixed Capital. In: Durlauf S., Blume L. (eds) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. "fixed capital", '' The New Palgrave: A Dictionary of Economics'', 1st Editio/ref> It contrasts with circulating capital such as raw materials, operating expenses etc. The concept was first theoretically analyzed in some depth by the economist Adam Smith in The Wealth of Nations (1776) and by David Ricardo in On the Principles of Political Economy and Taxation (1821). Ricardo studied the use of machines in place of labor and concluded that workers' fear of technology replacing them might be justified. Thus fixed capital is that portion of the total ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Kitchin Cycle
The Kitchin cycle is a short business cycle of about 40 months, identified in the 1920s by Joseph Kitchin. This cycle is believed to be accounted for by time lags in information movement, affecting the decision making of commercial firms. Firms react to the improvement of commercial situation through the increase in output through the full employment of the extant fixed capital assets. As a result, within a certain period of time (ranging between a few months and two years) the market gets ‘flooded’ with commodities whose quantity becomes gradually excessive. The demand declines, prices drop, the produced commodities get accumulated in inventories, which informs entrepreneurs of the necessity to reduce output. However, this process takes some time. It takes some time for the information that supply significantly exceeds demand to get to the business people. As it takes entrepreneurs time to check this information and to make the decision to reduce production, time is also nec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Joseph Schumpeter
Joseph Alois Schumpeter (; February 8, 1883 – January 8, 1950) was an Austrian political economist. He served briefly as Finance Minister of Austria in 1919. In 1932, he emigrated to the United States to become a professor at Harvard University, where he remained until the end of his career, and in 1939 obtained American citizenship. Schumpeter was one of the most influential economists of the early 20th century, and popularized creative destruction, a term coined by Werner Sombart. His magnum opus is considered '' Capitalism, Socialism and Democracy.'' Early life and education Schumpeter was born in 1883 in Triesch, Habsburg Moravia (now Třešť in the Czech Republic, then part of Austria-Hungary), to German-speaking Catholic parents. Though both of his grandmothers were Czech, Schumpeter did not acknowledge his Czech ancestry. His father, who owned a factory, died when Joseph was only four years old. In 1893, Joseph and his mother moved to Vienna. Schumpeter was ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Investment
Fixed investment in economics is the purchase of newly produced physical asset, or, fixed capital. It is measured as a flow variable – that is, as an amount per unit of time. Thus, fixed investment is the sum of physical assets such as machinery, land, buildings, installations, vehicles, or technology. Normally, a company balance sheet will state both the amount of expenditure on fixed assets during the quarter or year, and the total value of the stock of fixed assets owned. Fixed investment contrasts with investments in labour, ongoing operating expenses, materials or financial assets. Financial assets may also be held for a fixed term (for example, bonds) but they are not usually called "fixed investment" because they do not involve the purchase of physical fixed assets. The more usual term for such financial investments is "fixed-term investments". Bank deposits committed for a fixed term such as one or two years in a savings account are similarly called "fixed-term deposi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Business Cycle
Business cycles are intervals of general expansion followed by recession in economic performance. The changes in economic activity that characterize business cycles have important implications for the welfare of the general population, government institutions, and private sector firms. There are many definitions of a business cycle. The simplest defines recessions as two consecutive quarters of negative GDP growth. More satisfactory classifications are provided by, first including more economic indicators and second by looking for more data patterns than the two quarter definition. In the United States, the National Bureau of Economic Research oversees a Business Cycle Dating Committee that defines a recession as "a significant decline in economic activity spread across the market, lasting more than a few months, normally visible in real GDP, real income, employment, industrial production, and wholesale-retail sales." Business cycles are usually thought of as medium-term ev ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Fixed Capital
In accounting, fixed capital is any kind of real, physical asset that is used repeatedly in the production of a product. In economics, fixed capital is a type of capital good that as a real, physical asset is used as a means of production which is durable or isn't fully consumed in a single time period.Varri P. (1987) Fixed Capital. In: Durlauf S., Blume L. (eds) The New Palgrave Dictionary of Economics. Palgrave Macmillan, London. "fixed capital", '' The New Palgrave: A Dictionary of Economics'', 1st Editio/ref> It contrasts with circulating capital such as raw materials, operating expenses etc. The concept was first theoretically analyzed in some depth by the economist Adam Smith in The Wealth of Nations (1776) and by David Ricardo in On the Principles of Political Economy and Taxation (1821). Ricardo studied the use of machines in place of labor and concluded that workers' fear of technology replacing them might be justified. Thus fixed capital is that portion of the total ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1819 Births
Events January–March * January 2 – The Panic of 1819, the first major peacetime financial crisis A financial crisis is any of a broad variety of situations in which some financial assets suddenly lose a large part of their nominal value. In the 19th and early 20th centuries, many financial crises were associated with Bank run#Systemic banki ... in the United States, begins. * January 25 – Thomas Jefferson founds the University of Virginia. * January 29 – Sir Stamford Raffles lands on the island of Singapore. * February 2 – ''Dartmouth College v. Woodward'': The Supreme Court of the United States under John Marshall rules in favor of Dartmouth College, allowing Dartmouth to keep its charter and remain a private institution. * February 6 – The 1819 Singapore Treaty, Treaty of Singapore, is signed between Hussein Shah of Johor and Sir Stamford Raffles of Britain, to create a trading settlement in Singapore. * February 15 – The U ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
1905 Deaths
As the second year of the massive Russo-Japanese War begins, more than 100,000 die in the largest world battles of that era, and the war chaos leads to the 1905 Russian Revolution against Nicholas II of Russia (Dmitri Shostakovich, Shostakovich's Symphony No. 11 (Shostakovich), 11th Symphony is subtitled ''The Year 1905'' to commemorate this) and the start of Revolution in the Kingdom of Poland (1905–07), Revolution in the Kingdom of Poland. Canada and the U.S. expand west, with the Alberta and Saskatchewan provinces and the founding of Las Vegas. 1905 is also the year in which Albert Einstein, at this time resident in Bern, publishes his four Annus Mirabilis papers, ''Annus Mirabilis'' papers in ''Annalen der Physik'' (Leipzig) (March 18, May 11, June 30 and September 27), laying the foundations for more than a century's study of theoretical physics. Events January * January 1 – In a major defeat in the Russo-Japanese War, Russian General Anatoly Stessel su ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
French Statisticians
French may refer to: * Something of, from, or related to France ** French language, which originated in France ** French people, a nation and ethnic group ** French cuisine, cooking traditions and practices Arts and media * The French (band), a British rock band * "French" (episode), a live-action episode of ''The Super Mario Bros. Super Show!'' * ''Française'' (film), a 2008 film * French Stewart (born 1964), American actor Other uses * French (surname), a surname (including a list of people with the name) * French (tunic), a type of military jacket or tunic * French's, an American brand of mustard condiment * French (catheter scale), a unit of measurement * French Defence, a chess opening * French kiss, a type of kiss See also * France (other) * Franch, a surname * French Revolution (other) * French River (other), several rivers and other places * Frenching (other) Frenching may refer to: * Frenching (automobile), recessing or mou ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
