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Belarusian Business Cycle in Cross-country Comparison: Industry and Aggregate Data

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  • Kirill Shakhnov

Abstract

The paper documents stylized facts about Belarusian business cycle based on aggregate and industry data and puts it into an international content. First, the aggregate fluctuations in Belarus are mostly driven by the wedge, which resembles a time-varying investment tax. Second, the fluctuation in relative prices of an industry is typically more important than volume fluctuation. Furthermore, the impact of price fluctuations is partially o ffset by volume fluctuation. Third, the aggregate cycle is smoother than the industry-speci fic one. In particular, agriculture, construction and fi nance experience a very sharp drop in a recession.

Suggested Citation

  • Kirill Shakhnov, 2015. "Belarusian Business Cycle in Cross-country Comparison: Industry and Aggregate Data," BEROC Working Paper Series 30, Belarusian Economic Research and Outreach Center (BEROC).
    • Handle: RePEc:bel:wpaper:30
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    File URL: http://eng.beroc.by/webroot/delivery/files/Shahnov_BEROCwp_no30.pdf
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    References listed on IDEAS

    as
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    More about this item

    Keywords

    bussiness cycle; industry data; Belarus;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • L11 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Production, Pricing, and Market Structure; Size Distribution of Firms

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