Vera Pirimova
— University of National and World Economy
The article focuses on the basic traits of theoretical concepts and modifying trends outlined in the empirical expression of the regularities which govern the cycle development of the modern stage. The principles of cyclic recurrence are interpreted on the basis of traditional understanding of development of economic cycles, as well as of a new cyclic recurrence form related to the emerging cycles of economic growth. This form is confirmed by recurrent fluctuations in the wavy trajectory of growth over the past 40 years. The transformation process of the "classical" form of the cyclic recurrence into the new one is justified by the realities of economic dynamics in the world, EU member states and the United States during 1971-2010. Particularly, this study covers the dynamics of gross product, employment, unemployment and inflation. It also notes changes in coordination and synchronization degree of these basic indicators applicable for analysis of the economic cycle. New trends are expressed through increasing cyclic resistance and formation of a longer cycle of growth in world economy and the economies of the European Union and the United States.
