Macroeconomic fluctuations cycle stages in the economic boom, fiscal revenue upward trend in the economic recession, fiscal revenue showed a downward trend.

在经济繁荣时期宏观经济波动周期的各个阶段，财政收入会呈上升趋势，但在经济衰退中，财政收入会呈下降趋势。

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Business cycle theory played an important role in macroeconomic research. Social economy has been developing continuously, with the characteristic of cycle changes.

经济周期理论是宏观经济研究中的一个重要组成部分。

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This in turn tends to prolong both the boom and bust stages of the cycle and increase macroeconomic instability.

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But macroeconomic belt-tightening at an awkward point in the business cycle is an entirely different matter from the painful, structural, microeconomic reforms that are needed to create jobs.

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