Clément Juglar

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Clément Juglar
Clément Juglar.gif
Born (1819-10-15)15 October 1819
Paris, France
Died 28 February 1905(1905-02-28) (aged 85)
Paris, France
Nationality France
Occupation Doctor, statistician
Known for Idea of business cycles

Clément Juglar (15 October 1819 – 28 February 1905) was a French doctor and statistician.

Juglar Cycles[edit]

He was one of the first to develop an economic theory of business cycles.[1][2] He identified the 7-11 year fixed investment cycle that is now associated with his name. 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. The recent research employing spectral analysis has confirmed the presence of Juglar cycles in the world GDP dynamics up to the present time.[3]

Juglar's Impact[edit]

Juglar's publications led to other business cycle theories by later economists such as Joseph Schumpeter.

Publications of Clément Juglar[edit]

See also[edit]


  1. ^ Des Crises commerciales et leur retour periodique en France, en Angleterre, et aux Etats-Unis. Paris: Guillaumin, 1862.
  2. ^ The New Encyclopaedia Britannica: Macropaedia 1998 "The first authority to explore economic cycles as periodically recurring phenomena was probably a French physician, Clément Juglar, in 1860."
  3. ^ See, e.g. Korotayev, Andrey V., & Tsirel, Sergey V.(2010). 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. Structure and Dynamics. Vol.4. #1. P.3-57.

External links[edit]