Munich Personal RePEc Archive

Can solar activity influence the occurrence of economic recessions?

Gorbanev, Mikhail (2015): Can solar activity influence the occurrence of economic recessions? Published in: Journal of Scientific Exploration , Vol. No. 2, No. Vol. 29 (15. June 2015): pp. 235-264.

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Abstract

This paper revisits evidence of solar activity influence on the economy. We examine whether economic recessions occur more often in the years around and after solar maximums. This research strand dates back to late XIX century writings of famous British economist William Stanley Jevons, who claimed that “commercial crises” occur with periodicity matching solar cycle length. Quite surprisingly, our results suggest that the hypothesis linking solar maximums and recessions is well anchored in data and cannot be easily rejected.

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