This paper constructs a new chronology of the business cycle in the United Kingdom from 1700 on an annual basis and from 1920 on a quarterly basis to 2010. The new chronology points to several observations about the business cycle. First, the cycle has significantly increased in duration and amplitude over time. Second, contractions have become less frequent but are as persistent and costly as at other times in history. Third, the typical recession has been tick-shaped with a short contraction and longer recovery. Finally, the major causes of downturns have been sectoral shocks, financial crises, and wars.

中文翻译：

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英国约会商业周期，1700 年至 2010 年

本文构建了英国经济周期的新年表，从 1700 年开始按年计算，从 1920 年按季度计算到 2010 年。新的年表指出了有关商业周期的一些观察结果。首先，随着时间的推移，周期的持续时间和幅度显着增加。其次，经济收缩已经不再那么频繁，但与历史上其他时期一样持续且代价高昂。第三，典型的衰退呈蜱状，收缩时间较短，复苏时间较长。最后，经济衰退的主要原因是部门冲击、金融危机和战争。