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On the Asymmetry of Economic Cycles

In: Industry 4.0

Author

Listed:
  • Valentin Sokolov

    (Center for Fundamental Research of Economic Development in Russia, St-Petersburg State University of Economics)

  • Tessaleno Devezas

    (University of Beira Interior)

  • Svetlana Rumyantseva

    (St. Petersburg State University)

Abstract

This paper offers a brief review of economic cycle theories, pointing out the key parameters that describe their dynamic behavior, and proposes a model of asymmetric economic cycles. The model is based on the assumption that economic cycles are non-equilibrium processes characteristic of complex open-ended systems and uses two different see-saw-like sine functions in its construction: an additive version and a multiplicative version. An empirical verification of the model is presented for the GDP cyclic dynamics for several countries and the asymmetries observed on a global scale. For some countries we have also examined the asymmetric behavior for other economic variables, like energy production and unemployment. Conclusions are drawn about the suitability of the model to forecast economic cyclic dynamics.

Suggested Citation

  • Valentin Sokolov & Tessaleno Devezas & Svetlana Rumyantseva, 2017. "On the Asymmetry of Economic Cycles," Studies on Entrepreneurship, Structural Change and Industrial Dynamics, in: Tessaleno Devezas & João Leitão & Askar Sarygulov (ed.), Industry 4.0, pages 65-92, Springer.
    • Handle: RePEc:spr:seschp:978-3-319-49604-7_4
    DOI: 10.1007/978-3-319-49604-7_4
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    Cited by:

    1. Claudia Isac & Ana Maria Mihaela Iordache & Lia Baltador & Cristina Coculescu & Dorina Niță, 2023. "Enhancing Students’ Entrepreneurial Competencies through Extracurricular Activities—A Pragmatic Approach to Sustainability-Oriented Higher Education," Sustainability, MDPI, vol. 15(11), pages 1-26, May.
    2. Sergii Sardak & Igor Britchenko & Radostin Vazov & Oleksandr P. Krupskyi, 2021. "Life Cycle: Formation, Structure, Management," Economic Studies journal, Bulgarian Academy of Sciences - Economic Research Institute, issue 6, pages 126-142.

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