Has the Business Cycle Changed? Evidence and Explanations
نویسنده
چکیده
Over the past 30 years, economic activity has become less volatile in most G-7 countries. In the United States, for example, the standard deviation of the growth rate of GDP averaged over four quarters was one-third less during 1984 to 2002 than it was during 1960 to 1983. This decline in volatility is widespread across sectors within the United States and is also found in the other G-7 economies, although the timing and details differ from one country to the next. Interestingly, despite these changes and increasing international economic integration, output fluctuations have not become more correlated or synchronized across countries.
منابع مشابه
Business cycles in Iran: Evidence from asymmetry and correlated shocks
In this Paper, business cycle asymmetry in Iran has been investigated using a nonlinear unobserved component model. In this regard, according to Kim and Nelsonchr('39')s (1999) interpretation of Friedman plucking model (1993), asymmetric transitory component has been modeled and simultaneously the possibility of a correlation between transitory and permanent shocks has also been considered. The...
متن کاملThe Effect of Business Cycle Fluctuations on Import Protection in Selected Developing Countries
In recent decades, theorists proposed the role of domestic components such as interior active groups, policies and macroeconomic indicators on determination of protection policies. In the context of recent studies, this study has investigated the effect of business cycle fluctuations on import protection for selected developing countries in 1995-2011 by using dynamic panel data method. Furtherm...
متن کاملThe Impact of Liquidity on Iranian Bank Profitability
This paper analyzes the impact of liquid asset holdings on bank profitability for a sample of Iranian banks. Using the Generalized Method of Moment (GMM), this study analyzes the profitability of listed banks using unbalanced panel data over the period of 2002-2009. We use the liquidity asset and liquidity asset-ratio square for estimating liquid asset and profitability relationship. The e...
متن کاملAnalysis of the Relationship between the Business Cycle and Inflation Gap in Time-Frequency Domain
Controlling the business cycle and minimizing the inflation gap are considered as two major goals for monetary policy. Hence, the policymaker will be able to make more decisive decisions with an awareness of the dynamic relationship and causal relationship between these two variables. Accordingly, the present study uses a discrete and continuous wavelet transform to provide a new understanding ...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2003