{{Short description|Fixed investment cycle of 7 to 11 years}} {{Economic waves}} The '''Juglar cycle''' is a fixed investment cycle of 7 to 11 years identified in 1862 by Clément Juglar.<ref>[http://gallica.bnf.fr/ark:/12148/bpt6k1060720 ''Des Crises commerciales et leur retour periodique en France, en Angleterre, et aux Etats-Unis'']. Paris: Guillaumin, 1862. {{in lang|fr}}</ref> Within the Juglar cycle one can observe oscillations of investments into fixed capital and not just changes in the level of employment of the fixed capital (and respective changes in inventories), as is observed with respect to Kitchin cycles. 2010 research employing spectral analysis confirmed the presence of Juglar cycles in world GDP dynamics.<ref>See, e.g. {{cite journal |last1=Korotayev |author-link1=Andrey Korotayev |first1=Andrey V. |last2=Tsirel |first2=Sergey V. |year=2010 |url=http://www.escholarship.org/uc/item/9jv108xp |title=A Spectral Analysis of World GDP Dynamics: Kondratieff Waves, Kuznets Swings, Juglar and Kitchin Cycles in Global Economic Development, and the 2008–2009 Economic Crisis |journal=Structure and Dynamics |volume=4 |issue=1 |pages=3–57 }}</ref>
==See also== *Fixed investment *Business cycle
==References== {{Reflist}}
==Further reading== * {{cite book |last=Lewis |first=W. Arthur |author-link=Arthur Lewis (economist) |title=Growth and Fluctuations 1870–1913 |location=London |publisher=Allen & Unwin |year=1978 |isbn=0-04-300072-X |pages=[https://archive.org/details/growthfluctuatio0000lewi/page/33 33–68] |url-access=registration |url=https://archive.org/details/growthfluctuatio0000lewi/page/33 }} * {{cite book |last=Morgan |first=Mary S. |author-link=Mary S. Morgan |title=The History of Econometric Ideas |location=New York |publisher=Cambridge University Press |year=1990 |isbn=0-521-37398-0 |pages=40–44 |url=https://books.google.com/books?id=iUpDzJM9lq0C&pg=PA40 }}
==External links== *[http://www.unil.ch/webdav/site/cwp/users/neyguesi/public/D._Besomi_ Clement Juglar and the transition from crises theory to business cycle theories]
Category:Business cycle theories