Morphology of Business Cycles in Poland in the Period of the World Financial Crisis and Covid-19 Pandemic

Abstract The occurrence of business cycles is a feature of every economic system, so they were also observed in Poland. The article is an attempt to assess the structure and most important morphological features of the business cycles in Poland’s economy, taking into account how they were influenced by the consequences of the financial crisis 2007+ and COVID-19 pandemic. In the study the authors used the concept of deviation cycles which makes it possible to characterize the components of the business cycle’s structure, i.e. identification of its turning points, particular phases and most important morphological features (i.e. duration of phases and the whole cycle, amplitude of fluctuations). The most significant empirical indicators which characterize the real cyclical processes, i.e. GDP, consumption and investment, were the subject of statistical analyses.