The Juglar cycle is a fixed investment cycle of 7 to 11 years identified in 1862 by
Clément Juglar
Clément Juglar (15 October 1819 – 28 February 1905) was a French 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 autho ...
. 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
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 ...
(and respective changes in inventories), as is observed with respect to
Kitchin cycle
Kitchin cycle is a short business cycle of about 40 months discovered in the 1920s by Joseph Kitchin.
This cycle is believed to be accounted for by time lags in information movements affecting the decision making of commercial firms. Firms react ...
s. 2010 research employing
spectral analysis confirmed the presence of Juglar cycles in world GDP dynamics.
[See, e.g. ]
See also
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Fixed investment
Fixed investment in economics is the purchasing of newly produced fixed capital. It is measured as a flow variable – that is, as an amount per unit of time.
Thus, fixed investment is the accumulation of physical assets such as machinery, land ...
*
Business cycle
Business cycles are intervals of expansion followed by recession in economic activity. These changes have implications for the welfare of the broad population as well as for private institutions. Typically business cycles are measured by examin ...
References
Further reading
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* {{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=0-521-37398-0 , pages=40–44 , url=https://books.google.com/books?id=iUpDzJM9lq0C&pg=PA40
External links
Clement Juglar and the transition from crises theory to business cycle theories
Business cycle theories