Problem
From 1947 to 1973, the US economy went through five recessions, while Europe and Japan did not have any. Since 1982, however, cyclical downturns in Europe and Japan have been at least as frequent as in the US. What factors caused the frequency of business cycles in the US to decline, and what factors caused their frequency in Europe and Japan to increase?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.