Economic cycles: financial and real corporate sectors

This article represents relations between financial and real sectors of US economy in touch with macroeconomic cycles. Extra attention is paid to institutional transformations, named “reaganomic” which primarily affected the organization of financial institutions. It is shown that in long period these changes led to increasing of disproportions and imbalances between real and financial sectors. Extra attention is paid to description and analysis of correlation between relations of these two areas and the cyclical fluctuations of the economy. The present study is a contribution to the development of the financial theory of economic cycles.