The paper reports the principal findings of a long term research project on the description and explanation of business cycles. The research strongly confirmed the older view that business cycles have large systematic components that take the form of investment cycles. These quasi-periodic...

The paper tests the hypothesis that the post-Korean War business cycles of the U.S. economy can be explained b y a simple inventory cycle model b ased on the work of Lloyd Metzler. The hypothesis was found to be compatible with the data