Table of Contents

Handbook of Research Methods and Applications in Heterodox Economics

Handbook of Research Methods and Applications in Heterodox Economics

Handbooks of Research Methods and Applications series

Edited by Frederic S. Lee and Bruce Cronin

Despite the important critiques of the mainstream offered by heterodox economics, the dominant method remains econometrics. This major new Handbook provides an invaluable introduction to a range of alternative research methods better suited for analysing the social data prominent in heterodox research projects, including survey, historical, ethnographic, experimental, and mixed approaches, together with factor, cluster, complex, and social network analytics. Introductions to each method are complemented by descriptions of applications in practice.

Chapter 28: Detecting business cycles

Susan K. Schroeder

Subjects: economics and finance, history of economic thought, methodology of economics, post-keynesian economics, radical and feminist economics, research methods, research methods in economics


Business cycles are a notoriously elusive phenomenon for theorists, practitioners, and policy-makers. They are just one of a multitude of cyclical behaviors that a capitalist market economy exhibits. Detecting them requires a clear vision not only of the dynamics that generate them, but also of how to approach isolating the cyclical component in time series data. This chapter provides an overview of the theoretical approaches to thinking about what causes business cycles, the ways in which time series analysis has been used to detect cyclical patterns in data, and a discussion of the methodological challenges that heterodox economists face when selecting time series techniques and the advantages they have for more clearly understanding the dynamics which lie behind data.

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