Zheng, Tingguo; Teng, Yujuan; Song, Tao - In: China & World Economy 18 (2010) s1, pp. 103-120
Friedman's plucking model of business fluctuations suggests that output cannot exceed an upper limit, but it is occasionally "plucked" downward below trends as a result of economic recessions. This paper investigates China's business fluctuations using quarterly real GDP data for the period...