THE KEYNESIAN-MONETARIST DEBATE ON BUSINESS CYCLES : A CASE STUDY OF THE GREAT DEPRESSION

Macroeconomic fluctuations are a recurring theme throughout history. The Business Cycle Theory divides the macroeconomic fluctuations into four periods; recession, trough, expansion, and peak. Besides these alten-Hing periods, there are two extreme points of business cycles; boom and depression The boom and depression are defined as extraordinarily peak and extraordinarily deep respectively. Depressions, among others, are mostly considert periods, since they result in not only severe economic problems but also social and political destructions.

Anahtar Kelimeler:

Makroekonomik dalgalanmalar, İş çevrimlerinin analizleri, Keynesyen ve monetarist teori

THE KEYNESIAN-MONETARIST DEBATE ON BUSINESS CYCLES : A CASE STUDY OF THE GREAT DEPRESSION

Keywords:

The analyses of business cycles, Macroeconomic fluctuations, Keynesian and monetarist theories,

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