Teori dan Teknik Penyusunan Indikator Business Cycle

The contraction period in the world economy is commonly called "a recession" and the expansion period is called "a recovery". The existing movement of these kinds in an aggregated form is called "Business Cycle". The definition of a Business Cycle was formulated by Arthur F. Bums and Wesley C. Mitchell in 1946 which was a modification of that of the National Bureau of Economic Research in 1927 and is as follows : Business cycles are a type of fluctuation found in the aggregate economic activity of nations that organize their work mainly in business enterprises: a cycle consists of expansions occurring at about the same time in many economic activities, followed by similarly general recessions, contractions, and revivals which merge into the expansion phase of the next cycle: this sequence of changes is recurrent but not periodic; in duration business cycles vary from more than one year to ten or twelve years; they are not divisible into shorter cycles of similar character with amplitudes approximately their own.