Ongoing Changes in the Business Cycle: Evidence and Causes
This paper first reviews a number of stylised facts concerning OECD country business cycles over the past four decades. In general, the amplitude of business cycles has fallen, driven mainly by declining fluctuations of domestic demand. As a result, international divergencies of cyclical positions h...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2002
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| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper first reviews a number of stylised facts concerning OECD country business cycles over the past four decades. In general, the amplitude of business cycles has fallen, driven mainly by declining fluctuations of domestic demand. As a result, international divergencies of cyclical positions have diminished but, outside the euro area, there is little evidence of increased synchronisation of cycles. The paper then reviews a number of influences on business cycles. The evidence suggests that, on balance, features of macroeconomic policies may have tended to reduce cyclical volatility and structural changes, notably the increased share of the service sector in the economies, have also tended to dampen the cycle. More recently, there are signs that financial market prices have increasingly moved in sympathy across countries, and the final section of the paper illustrates how this could affect the international transmission of cyclical shocks and the associated need for policy ... |
| Beschreibung: | 1 Online-Ressource (67 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/480377612415 |
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| 520 | |a This paper first reviews a number of stylised facts concerning OECD country business cycles over the past four decades. In general, the amplitude of business cycles has fallen, driven mainly by declining fluctuations of domestic demand. As a result, international divergencies of cyclical positions have diminished but, outside the euro area, there is little evidence of increased synchronisation of cycles. The paper then reviews a number of influences on business cycles. The evidence suggests that, on balance, features of macroeconomic policies may have tended to reduce cyclical volatility and structural changes, notably the increased share of the service sector in the economies, have also tended to dampen the cycle. More recently, there are signs that financial market prices have increasingly moved in sympathy across countries, and the final section of the paper illustrates how this could affect the international transmission of cyclical shocks and the associated need for policy ... | ||
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| indexdate | 2024-12-18T19:03:36Z |
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| spelling | Dalsgaard, Thomas Verfasser aut Ongoing Changes in the Business Cycle Evidence and Causes Thomas Dalsgaard, Jørgen Elmeskov and Cyn-Young Park = Changements continus du cycle économique - faits et causes / Thomas Dalsgaard, Jørgen Elmeskov et Cyn-Young Park Changements continus du cycle économique - faits et causes Paris OECD Publishing 2002 1 Online-Ressource (67 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper first reviews a number of stylised facts concerning OECD country business cycles over the past four decades. In general, the amplitude of business cycles has fallen, driven mainly by declining fluctuations of domestic demand. As a result, international divergencies of cyclical positions have diminished but, outside the euro area, there is little evidence of increased synchronisation of cycles. The paper then reviews a number of influences on business cycles. The evidence suggests that, on balance, features of macroeconomic policies may have tended to reduce cyclical volatility and structural changes, notably the increased share of the service sector in the economies, have also tended to dampen the cycle. More recently, there are signs that financial market prices have increasingly moved in sympathy across countries, and the final section of the paper illustrates how this could affect the international transmission of cyclical shocks and the associated need for policy ... Economics Elmeskov, Jørgen ctb Park, Cyn-Young ctb https://doi.org/10.1787/480377612415 Verlag kostenfrei Volltext |
| spellingShingle | Dalsgaard, Thomas Ongoing Changes in the Business Cycle Evidence and Causes Economics |
| title | Ongoing Changes in the Business Cycle Evidence and Causes |
| title_alt | Changements continus du cycle économique - faits et causes |
| title_auth | Ongoing Changes in the Business Cycle Evidence and Causes |
| title_exact_search | Ongoing Changes in the Business Cycle Evidence and Causes |
| title_exact_search_txtP | Ongoing Changes in the Business Cycle Evidence and Causes |
| title_full | Ongoing Changes in the Business Cycle Evidence and Causes Thomas Dalsgaard, Jørgen Elmeskov and Cyn-Young Park = Changements continus du cycle économique - faits et causes / Thomas Dalsgaard, Jørgen Elmeskov et Cyn-Young Park |
| title_fullStr | Ongoing Changes in the Business Cycle Evidence and Causes Thomas Dalsgaard, Jørgen Elmeskov and Cyn-Young Park = Changements continus du cycle économique - faits et causes / Thomas Dalsgaard, Jørgen Elmeskov et Cyn-Young Park |
| title_full_unstemmed | Ongoing Changes in the Business Cycle Evidence and Causes Thomas Dalsgaard, Jørgen Elmeskov and Cyn-Young Park = Changements continus du cycle économique - faits et causes / Thomas Dalsgaard, Jørgen Elmeskov et Cyn-Young Park |
| title_short | Ongoing Changes in the Business Cycle |
| title_sort | ongoing changes in the business cycle evidence and causes |
| title_sub | Evidence and Causes |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/480377612415 |
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