MACROECONOMIC THOUGHTS.PART 21

focus only on goods and services domestically produced in America.It influence marsolism's sovereign national credit income account(SONACA) and (GAP/GOCAP) a miniature GDP equivalent for the yet unorganised debt economy.Kuznet efforts provided a better template at measurement of economic growth andgood framework to handle the cycle.Most theories on business cycle focus more on monetary policy or agricultural weather climate and it speaks volume why it should not be underrated or underestimated as central economic problem and boon alike especially to investors profiting largely from market downturns.Several institutions like NBER have examined its volatility in America using GDP,and real indicators like employment,inflation,income and wholesale retail,industrial production etc.General speaking according to NBER,that since the second world war,expansion had taken an average of 95 months and contraction phase an average of 11 months.It uses data on debt and market to measure ex

pansion since 1945 and it says        Robert Klein