Identification of the Economic Cycles in Mexico: 1950-1998

Abstract

“Economic cycles are a type of fluctuation found in the aggregate economic activity of nations organizing their work, mainly in business enterprises: an economic cycle consists of upswing lapses occurring at the same time in many economic activities, followed by similarly general downswing lapses, composed of crisis phases, recession and revival which are resolved in a new period of upswing in the following cycle; this sequence of changes is recurrent but not periodic; the duration of the economic cycle varies from a little more than one year to ten or twelve years; and they are not divisible into shorter cycles of similar character and amplitude” (Burns y Mitchell, 1946).