Economic History and the Business Cycle
The standard of living of the average citizen has tremendously increased during the past hundred years. But a closer look at the evolution of real GDP reveals that this indicator did not increase every year during this time. In this question, you will be asked to analyze the short-run fluctuations in real GDP, unemployment and inflation, better known as business cycles.
a) For the country (Turkey), find historical data for real GDP, unemployment and inflation (oldest to most recent). Do not include the table in your MS Word document.
b) Using MS Excel, plot the time series for each variable.
c) After defining a recession and an expansion, identify and display historical recessions and expansions periods on the real GDP evolution plot.
d) Compare the evolution of unemployment and inflation to the GDP one. Analyze using clear arguments.
We prefer the reference would be : https://databank.worldbank.org/data/home.aspx