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Essay / Research Paper Abstract
An 8 page research paper based on the article 'On the Contribution of Technology Shocks to Business Cycles' published in 1997. With the continued growth of the economy after 7 years of steady expansion, some economists were claiming that the classic business cycle is obsolete. Economists said that once before, too—in 1969, just before the worldwide recession of the early 1970s. The theory is that technological advances have forestalled the expected downturn of the business cycle. Bibliography lists 7 sources.
8 pages (~225 words per page)
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