{"product_id":"9781604568660","title":"Recessions","description":"A critical consideration in understanding business cycles is the amplification and propagation of shocks to the economic system. Many recessions seem to arise without a clearly identifiable cause or at least one of significant magnitude to justify an economy-wide recession. How can a small shock cause large changes in the economy? What are the mechanisms that amplify a modest shock such that a serious recession ensues? Despite the persistent search for a mechanism for business cycle amplification and propagation, much research in business cycles seems to ignore the likely role of the financial system. If a shock to the economy inhibits the capital allocation capability of an economy, then a seemingly mild shock may be amplified through its impact on new investment thereby snuffing out economic growth and causing a recession. This book provides new research on the field of recessions from around the globe.","brand":"Nova Science Publishers, Inc (US)","offers":[{"title":"Default Title","offer_id":65426873254237,"sku":null,"price":86.99,"currency_code":"GBP","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1041\/3893\/2573\/files\/9781604568660.jpg?v=1789379102","url":"https:\/\/shop.gazellebookservices.co.uk\/products\/9781604568660","provider":"Gazelle Book Services","version":"1.0","type":"link"}