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I am not sure whether Mitchell coined the term, but he did use the  
term in earlier articles. The earliest I found was in: Wesley C.  
Mitchell, "The Decline in the Ratio of Banking Capital to Liabilities,"  
_Quarterly Journal of Economics_, Vol. 23, No. 4. (Aug., 1909), pp.  
697-713.  He uses the term "business cycles" on page 711.   
 
He also uses the term in two other articles from 1911, as well as a  
1913 article.   
 
Mat Forstater 
 
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