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External influences in Nordic business cycles, 1870–1988

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  • Michael Bergman
  • Stefan Gerlach
  • Lars Jonung

Abstract

This paper considers the relationship of the Nordic business cycle to the world business cycle using annual output data spanning 1870–1988. The paper studies the Nordic and a set of non-Nordic countries separately and finds evidence for both a Nordic and a world business cycle. Output movements in the individual Nordic countries are connected through the Nordic business cycle and are less affected by the world business cycle. There is no significant change in the behavior of the business cycle in the Nordic countries between 1873–1913 and 1948–1988. Copyright Kluwer Academic Publishers 1992

Suggested Citation

  • Michael Bergman & Stefan Gerlach & Lars Jonung, 1992. "External influences in Nordic business cycles, 1870–1988," Open Economies Review, Springer, vol. 3(1), pages 1-22, February.
    • Handle: RePEc:kap:openec:v:3:y:1992:i:1:p:1-22
    DOI: 10.1007/BF01886178
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    References listed on IDEAS

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    1. Robert J. Gordon, 1986. "The American Business Cycle: Continuity and Change," NBER Books, National Bureau of Economic Research, Inc, number gord86-1, July.
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    3. Gerlach, Stefan & Klock, John, 1988. "State-space estimates of international business cycles," Economics Letters, Elsevier, vol. 28(3), pages 231-234.
    4. Baxter, Marianne & Stockman, Alan C., 1989. "Business cycles and the exchange-rate regime : Some international evidence," Journal of Monetary Economics, Elsevier, vol. 23(3), pages 377-400, May.
    5. Sheffrin, Steven M., 1988. "Have economic fluctuations been dampened? : A look at evidence outside the United States," Journal of Monetary Economics, Elsevier, vol. 21(1), pages 73-83, January.
    6. Dellas, Harris, 1986. "A real model of the world business cycle," Journal of International Money and Finance, Elsevier, vol. 5(3), pages 381-394, September.
    7. Gerlach, H M Stefan, 1988. "World Business Cycles under Fixed and Flexible Exchange Rates," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(4), pages 621-632, November.
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    Cited by:

    1. Durevall, Dick & Henrekson, Magnus, 2011. "The futile quest for a grand explanation of long-run government expenditure," Journal of Public Economics, Elsevier, vol. 95(7), pages 708-722.
    2. Francisco Nadal de Simone & Jose Tongzon, 1997. "Is there a business cycle in Singapore? Is there a Singaporean business cycle?," Atlantic Economic Journal, Springer;International Atlantic Economic Society, vol. 25(1), pages 60-79, March.
    3. Bergman, Michael, 1996. "International evidence on the sources of macroeconomic fluctuations," European Economic Review, Elsevier, vol. 40(6), pages 1237-1258, June.
    4. Peter F. Christoffersen, "undated". "Dating the Turning Points of Nordic Business Cycles," EPRU Working Paper Series 00-13, Economic Policy Research Unit (EPRU), University of Copenhagen. Department of Economics.

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