Jadevicius, Arvydas, Sloan, Brian and Brown, Andrew (2010) A century of research on property cycles – a review of research on major and auxiliary business cycles. In: XI BSV International Conference on Valuation and Investment,, 23-24 September 2010, Minsk, Belarus. (Unpublished)

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Abstract/Description

The existence of cycles within economy and its sub-sectors has been studied for a number of years. The importance of cycles has grown to have significant importance in the major capitalistic countries, seeing cycles as having a negative impact on the aggregate output of these economies. As a result, economists and scholars attempted to research this phenomenon in the belief that a better understanding of the cyclical nature of the economy would prevent cycles from happening in the future. Various theories have been developed to explain the regularity of business cycles. The aim of this paper is to discuss the major types of cycles found in the literature. There are four major and eight auxiliary cycles. The review presents a discussion on their general characteristics, and the key forces that produce these cycles. Concluding remarks summarise the discussion and present key findings.

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