THE “PLUCKING MODEL” OF BUSINESS FLUCTUATIONS REVISITED

@article{Friedman1993THEM,
  title={THE “PLUCKING MODEL” OF BUSINESS FLUCTUATIONS REVISITED},
  author={M. Friedman},
  journal={Economic Inquiry},
  year={1993},
  volume={31},
  pages={171-177}
}
Some twenty-five years ago, the author suggested a model of business fluctuations that stresses occasional events producing contractions and subsequent revivals rather than a self-generating cyclical process. Evidence for the past quarter century, like evidence presented in the author's earlier paper for a longer period, supports the view that the model is a useful way to interpre t business fluctuations and has sufficiently important implications to justify further empirical work for both the… Expand

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