No book can help you construct foolproof forecasting systems that will ensure you'll accurately predict economic turning points every time. But with Niemira and Klein's on hand, you'll be able to significantly strengthen your ability to measure, monitor, and forecast important fluctuations. Part history, it provides you with essential background material on the characteristics and causes of economic volatility. It offers accessible coverage of the classical business cycle, the five basic types of economic cycles as determined by leading economists, and evolving ideas on the forces driving instability—ranging from simple unicausal theories, more complex Keynesian theory, to new classical macroeconomics. In addition, its concise review of America's economic past highlights the lessons that can be learned from the various cycles experienced since shortly before World War II. Part handbook, presents the full spectrum of statistical techniques used to measure cycles, trends, seasonal patterns, and other vital changes, offering you step-by-step guidance on applying a specific method and detailing its uses and limitations. It goes on to show how youcan adapt particular techniques to assess, track, and predict: Based on outstanding scholarship and years of practical experience, will serve as an invaluable tool for practitioners like you whose decision-making—and profit margin—depend on accurately assessing today's often uncertain economic climate. " provides a lively survey of the many ways that cyclical economic activity has been dissected and analyzed. With this book, an astute reader may even be able to anticipate the next cyclical turn."— , Chief Economist Fuji Securities, Inc. "The definitive book on the most important and enduringfeature of an often mist-bound economic landscape: the business cycle."— , Economics Editor, "Niemira and Klein cover both the theory of economic cyclesand methods for forecasting them. They provide one of the most comprehensive and current reviews of academic studies of economic cycles to be found anywhere."— , Professor of Finance, The University of Texas at El Paso "This book succeeds as a comprehensive, balanced, and accessible treatment of fluctuations in economic and financial activity. It should prove useful to all those in industry and finance who wish to understand and analyze the trends and changes in the modern dynamic economy."— , Professor Emeritus of Economics and Finance, University of Chicago