Business cycles do not have a specific duration. However, statistical studies have distinguished business cycles of different sizes, classifying them as follows:
• Short: They have an average duration of 40 months, they do not usually reach the depression phase. They are also known as small or Kitchin cycles.
• Means: They have an average duration of 7 and 11 years. They are a series of short cycles, which are not completely overcome and end up leading to an economic crisis. It is also known as the Juggler cycle.
• Long: They last between 47 and 60 years. , of an average of 54 years of duration. The phases are smooth and slow, it takes a long time to reach the peak and when there is a recession it is usually slow, but it leads to economic depressions of historical magnitude. They are also known as cycles of
Kondratieff
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