The Business Cycle Today.

This volume reports the proceedings of a 1970 Bureau conference on the business cycle today. The first half of the book is on the business cycle today, or perhaps more appropriately, business cycle studies today. One piece, by Ilse Mintz, develops and tests the concept of a "growth" cycle, by which she means a cycle in the rate of growth of a variable instead of in its level. The second paper, by Solomon Fabricant, looks at the "recession" of 1969-70 with an eye to determining whether it was in fact a recession. Under the classical level standard, it was close; under the growth standard, it probably was a recession. The final paper, by Geoffrey Moore, examines the behavior of prices, again relying heavily on the growth cycle standard. This half of the book concludes with discussion of these papers by Samuelson, Eckstein, Wallich, and Hickman. [ABSTRACT FROM AUTHOR]