Clément Juglar
Clément Juglar | |
|---|---|
 | |
| Born | 15 October 1819 |
| Died | 28 February 1905 (aged 85) |
| Nationality |  France |
| Occupation(s) | Doctor, statistician |
| Known for | Idea of business cycles |
| Cycle/wave name | Period (years) |
|---|---|
| Kitchin cycle (inventory, e.g. pork cycle) | 3–5 |
| Juglar cycle (fixed investment) | 7–11 |
| Kuznets swing (infrastructural investment) | 15–25 |
| Kondratiev wave (technological basis) | 45–60 |
Clément Juglar, (15 October 1819 in Paris – 28 February 1905 in Paris) was a French doctor and statistician.
Juglar Cycles
He was one of the first to develop an economic theory of business cycles.[1] He identified the 7-11 year fixed investment cycle that is now associated with his name. Within the Juglar cycle one can observe oscillations of investments into fixed capital and not just changes in the level of employment of the fixed capital (and respective changes in inventories), as is observed with respect to Kitchin cycles. The recent research employing spectral analysis has confirmed the presence of Juglar cycles in the world GDP dynamics up to the present time.[2]
Juglar's Impact
Juglar's publications led to other business cycle theories by later economists such as Joseph Schumpeter.
Publications of Clément Juglar
- "Des crises commerciales", 1856, in Annuaire de l'economie politique.
- Des Crises commerciales et leur retour periodique en France, en Angleterre, et aux Etats-Unis. Paris: Guillaumin, 1862.
- Du Change et de la liberte d'émission, 1868.
- Les Banques de depôt, d'escompte et d'émission, 1884.
See also
References
- ^ Des Crises commerciales et leur retour periodique en France, en Angleterre, et aux Etats-Unis. Paris: Guillaumin, 1862.
- ^ See, e.g. Korotayev, Andrey V., & Tsirel, Sergey V.(2010). A Spectral Analysis of World GDP Dynamics: Kondratieff Waves, Kuznets Swings, Juglar and Kitchin Cycles in Global Economic Development, and the 2008–2009 Economic Crisis. Structure and Dynamics. Vol.4. #1. P.3-57.
External links
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