Australian Business Cycle Facts
AbstractThis paper documents the post-war business cycle facts for Australia. The Hodrick-Prescott filter is used to remove the trend component from quarterly macroeconomic series. The business cycle facts we report are the volatilities of the cyclical (detrended) series and their cross correlations with cyclical real output. These facts are consistent with the business cycle facts reported for the United States, the United Kingdom and New Zealand with one exception. For most of the period since 1974, the real wage in Australia is strongly counter-cyclical whereas for these countries it is procyclical. Copyright 1996 by Blackwell Publishers Ltd/University of Adelaide and Flinders University of South Australia
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Bibliographic InfoArticle provided by Wiley Blackwell in its journal Australian Economic Papers.
Volume (Year): 35 (1996)
Issue (Month): 67 (December)
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Web page: http://www.blackwellpublishing.com/journal.asp?ref=0004-900X
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- Paul Cashin & Sam Ouliaris, 2001.
"Key Features of Australian Business Cycles,"
IMF Working Papers
01/171, International Monetary Fund.
- Don Harding & Adrian Pagan, 1999. "Knowing the Cycle," Melbourne Institute Working Paper Series wp1999n12, Melbourne Institute of Applied Economic and Social Research, The University of Melbourne.
- McKelvie, S. & Hall, Viv B., 2012. "Stylised facts for New Zealand business cycles: A post-1987 perspective," Working Paper Series 2364, Victoria University of Wellington, School of Economics and Finance.
- Susan Black & Tom Cusbert, 2010. "Durable Goods and the Business Cycle," RBA Bulletin, Reserve Bank of Australia, pages 11-18, September.
- Narayan, Paresh Kumar, 2008. "An investigation of the behaviour of Australia's business cycle," Economic Modelling, Elsevier, vol. 25(4), pages 676-683, July.
- Nilss Olekalns, 2001. "Cyclical asymmetries in Australian macroeconomic data," Applied Economics Letters, Taylor & Francis Journals, vol. 8(3), pages 145-148.
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