The Nature of Financial and Real Business Cycles: The Great Moderation and Banking Sector Pro-Cyclicality
This paper takes a fresh look at the nature of financial and real business cycles in OECD countries using annual data series and shorter quarterly and monthly economic indicators. It first analyses the main characteristics of the cycle, including the length, amplitude, asymmetry and changes of these...
Gespeichert in:
| 1. Verfasser: | |
|---|---|
| Weitere Verfasser: | |
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2012
|
| Schriftenreihe: | OECD Economics Department Working Papers
|
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | This paper takes a fresh look at the nature of financial and real business cycles in OECD countries using annual data series and shorter quarterly and monthly economic indicators. It first analyses the main characteristics of the cycle, including the length, amplitude, asymmetry and changes of these parameters during expansions and contractions. It then studies the degree of economic and financial cycle synchronisation between OECD countries but also of economic and financial variables within a given country, and gauges the extent to which cycle synchronisation changed over time. Finally, the paper provides some new evidence on the drivers of the great moderation and analyses the banking sector's pro-cyclicality by using aggregate and bank-level data. The main findings show that the amplitude of the real business cycle was becoming smaller during the great moderation, but asset price cycles were becoming more volatile. In part this was linked to developments in the banking sector which tended to accentuate pro-cyclical behaviour |
| Beschreibung: | 1 Online-Ressource (43 Seiten) 21 x 29.7cm |
| DOI: | 10.1787/5k9h28k3gt24-en |
Internformat
MARC
| LEADER | 00000nam a2200000zc 4500 | ||
|---|---|---|---|
| 001 | BV047936528 | ||
| 003 | DE-604 | ||
| 007 | cr|uuu---uuuuu | ||
| 008 | 220413s2012 xx o|||| 00||| eng d | ||
| 024 | 7 | |a 10.1787/5k9h28k3gt24-en |2 doi | |
| 035 | |a (ZDB-13-SOC)061251801 | ||
| 035 | |a (OCoLC)1312690685 | ||
| 035 | |a (DE-599)BVBBV047936528 | ||
| 040 | |a DE-604 |b ger |e aacr | ||
| 041 | 0 | |a eng | |
| 049 | |a DE-384 |a DE-91 |a DE-473 |a DE-824 |a DE-29 |a DE-739 |a DE-355 |a DE-20 |a DE-1028 |a DE-1049 |a DE-188 |a DE-521 |a DE-861 |a DE-898 |a DE-92 |a DE-573 |a DE-19 | ||
| 100 | 1 | |a Égert, Balázs |e Verfasser |4 aut | |
| 245 | 1 | 0 | |a The Nature of Financial and Real Business Cycles |b The Great Moderation and Banking Sector Pro-Cyclicality |c Balázs Égert and Douglas Sutherland = Cycles économiques et financiers : la grande modération et la pro-cyclicalité du secteur bancaire / Balázs Égert et Douglas Sutherland |
| 246 | 1 | 3 | |a Cycles économiques et financiers |
| 264 | 1 | |a Paris |b OECD Publishing |c 2012 | |
| 300 | |a 1 Online-Ressource (43 Seiten) |c 21 x 29.7cm | ||
| 336 | |b txt |2 rdacontent | ||
| 337 | |b c |2 rdamedia | ||
| 338 | |b cr |2 rdacarrier | ||
| 490 | 0 | |a OECD Economics Department Working Papers | |
| 520 | |a This paper takes a fresh look at the nature of financial and real business cycles in OECD countries using annual data series and shorter quarterly and monthly economic indicators. It first analyses the main characteristics of the cycle, including the length, amplitude, asymmetry and changes of these parameters during expansions and contractions. It then studies the degree of economic and financial cycle synchronisation between OECD countries but also of economic and financial variables within a given country, and gauges the extent to which cycle synchronisation changed over time. Finally, the paper provides some new evidence on the drivers of the great moderation and analyses the banking sector's pro-cyclicality by using aggregate and bank-level data. The main findings show that the amplitude of the real business cycle was becoming smaller during the great moderation, but asset price cycles were becoming more volatile. In part this was linked to developments in the banking sector which tended to accentuate pro-cyclical behaviour | ||
| 650 | 4 | |a Economics | |
| 700 | 1 | |a Sutherland, Douglas |4 ctb | |
| 856 | 4 | 0 | |u https://doi.org/10.1787/5k9h28k3gt24-en |x Verlag |z kostenfrei |3 Volltext |
| 912 | |a ZDB-13-SOC | ||
| 943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-033318022 | |
Datensatz im Suchindex
| _version_ | 1818806114256420864 |
|---|---|
| adam_text | |
| adam_txt | |
| any_adam_object | |
| any_adam_object_boolean | |
| author | Égert, Balázs |
| author2 | Sutherland, Douglas |
| author2_role | ctb |
| author2_variant | d s ds |
| author_facet | Égert, Balázs Sutherland, Douglas |
| author_role | aut |
| author_sort | Égert, Balázs |
| author_variant | b é bé |
| building | Verbundindex |
| bvnumber | BV047936528 |
| collection | ZDB-13-SOC |
| ctrlnum | (ZDB-13-SOC)061251801 (OCoLC)1312690685 (DE-599)BVBBV047936528 |
| discipline | Wirtschaftswissenschaften |
| discipline_str_mv | Wirtschaftswissenschaften |
| doi_str_mv | 10.1787/5k9h28k3gt24-en |
| format | Electronic eBook |
| fullrecord | <?xml version="1.0" encoding="UTF-8"?><collection xmlns="http://www.loc.gov/MARC21/slim"><record><leader>00000nam a2200000zc 4500</leader><controlfield tag="001">BV047936528</controlfield><controlfield tag="003">DE-604</controlfield><controlfield tag="007">cr|uuu---uuuuu</controlfield><controlfield tag="008">220413s2012 xx o|||| 00||| eng d</controlfield><datafield tag="024" ind1="7" ind2=" "><subfield code="a">10.1787/5k9h28k3gt24-en</subfield><subfield code="2">doi</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(ZDB-13-SOC)061251801</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(OCoLC)1312690685</subfield></datafield><datafield tag="035" ind1=" " ind2=" "><subfield code="a">(DE-599)BVBBV047936528</subfield></datafield><datafield tag="040" ind1=" " ind2=" "><subfield code="a">DE-604</subfield><subfield code="b">ger</subfield><subfield code="e">aacr</subfield></datafield><datafield tag="041" ind1="0" ind2=" "><subfield code="a">eng</subfield></datafield><datafield tag="049" ind1=" " ind2=" "><subfield code="a">DE-384</subfield><subfield code="a">DE-91</subfield><subfield code="a">DE-473</subfield><subfield code="a">DE-824</subfield><subfield code="a">DE-29</subfield><subfield code="a">DE-739</subfield><subfield code="a">DE-355</subfield><subfield code="a">DE-20</subfield><subfield code="a">DE-1028</subfield><subfield code="a">DE-1049</subfield><subfield code="a">DE-188</subfield><subfield code="a">DE-521</subfield><subfield code="a">DE-861</subfield><subfield code="a">DE-898</subfield><subfield code="a">DE-92</subfield><subfield code="a">DE-573</subfield><subfield code="a">DE-19</subfield></datafield><datafield tag="100" ind1="1" ind2=" "><subfield code="a">Égert, Balázs</subfield><subfield code="e">Verfasser</subfield><subfield code="4">aut</subfield></datafield><datafield tag="245" ind1="1" ind2="0"><subfield code="a">The Nature of Financial and Real Business Cycles</subfield><subfield code="b">The Great Moderation and Banking Sector Pro-Cyclicality</subfield><subfield code="c">Balázs Égert and Douglas Sutherland = Cycles économiques et financiers : la grande modération et la pro-cyclicalité du secteur bancaire / Balázs Égert et Douglas Sutherland</subfield></datafield><datafield tag="246" ind1="1" ind2="3"><subfield code="a">Cycles économiques et financiers</subfield></datafield><datafield tag="264" ind1=" " ind2="1"><subfield code="a">Paris</subfield><subfield code="b">OECD Publishing</subfield><subfield code="c">2012</subfield></datafield><datafield tag="300" ind1=" " ind2=" "><subfield code="a">1 Online-Ressource (43 Seiten)</subfield><subfield code="c">21 x 29.7cm</subfield></datafield><datafield tag="336" ind1=" " ind2=" "><subfield code="b">txt</subfield><subfield code="2">rdacontent</subfield></datafield><datafield tag="337" ind1=" " ind2=" "><subfield code="b">c</subfield><subfield code="2">rdamedia</subfield></datafield><datafield tag="338" ind1=" " ind2=" "><subfield code="b">cr</subfield><subfield code="2">rdacarrier</subfield></datafield><datafield tag="490" ind1="0" ind2=" "><subfield code="a">OECD Economics Department Working Papers</subfield></datafield><datafield tag="520" ind1=" " ind2=" "><subfield code="a">This paper takes a fresh look at the nature of financial and real business cycles in OECD countries using annual data series and shorter quarterly and monthly economic indicators. It first analyses the main characteristics of the cycle, including the length, amplitude, asymmetry and changes of these parameters during expansions and contractions. It then studies the degree of economic and financial cycle synchronisation between OECD countries but also of economic and financial variables within a given country, and gauges the extent to which cycle synchronisation changed over time. Finally, the paper provides some new evidence on the drivers of the great moderation and analyses the banking sector's pro-cyclicality by using aggregate and bank-level data. The main findings show that the amplitude of the real business cycle was becoming smaller during the great moderation, but asset price cycles were becoming more volatile. In part this was linked to developments in the banking sector which tended to accentuate pro-cyclical behaviour</subfield></datafield><datafield tag="650" ind1=" " ind2="4"><subfield code="a">Economics</subfield></datafield><datafield tag="700" ind1="1" ind2=" "><subfield code="a">Sutherland, Douglas</subfield><subfield code="4">ctb</subfield></datafield><datafield tag="856" ind1="4" ind2="0"><subfield code="u">https://doi.org/10.1787/5k9h28k3gt24-en</subfield><subfield code="x">Verlag</subfield><subfield code="z">kostenfrei</subfield><subfield code="3">Volltext</subfield></datafield><datafield tag="912" ind1=" " ind2=" "><subfield code="a">ZDB-13-SOC</subfield></datafield><datafield tag="943" ind1="1" ind2=" "><subfield code="a">oai:aleph.bib-bvb.de:BVB01-033318022</subfield></datafield></record></collection> |
| id | DE-604.BV047936528 |
| illustrated | Not Illustrated |
| index_date | 2024-07-03T19:35:06Z |
| indexdate | 2024-12-18T19:04:37Z |
| institution | BVB |
| language | English |
| oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-033318022 |
| oclc_num | 1312690685 |
| open_access_boolean | 1 |
| owner | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| owner_facet | DE-384 DE-91 DE-BY-TUM DE-473 DE-BY-UBG DE-824 DE-29 DE-739 DE-355 DE-BY-UBR DE-20 DE-1028 DE-1049 DE-188 DE-521 DE-861 DE-898 DE-BY-UBR DE-92 DE-573 DE-19 DE-BY-UBM |
| physical | 1 Online-Ressource (43 Seiten) 21 x 29.7cm |
| psigel | ZDB-13-SOC |
| publishDate | 2012 |
| publishDateSearch | 2012 |
| publishDateSort | 2012 |
| publisher | OECD Publishing |
| record_format | marc |
| series2 | OECD Economics Department Working Papers |
| spelling | Égert, Balázs Verfasser aut The Nature of Financial and Real Business Cycles The Great Moderation and Banking Sector Pro-Cyclicality Balázs Égert and Douglas Sutherland = Cycles économiques et financiers : la grande modération et la pro-cyclicalité du secteur bancaire / Balázs Égert et Douglas Sutherland Cycles économiques et financiers Paris OECD Publishing 2012 1 Online-Ressource (43 Seiten) 21 x 29.7cm txt rdacontent c rdamedia cr rdacarrier OECD Economics Department Working Papers This paper takes a fresh look at the nature of financial and real business cycles in OECD countries using annual data series and shorter quarterly and monthly economic indicators. It first analyses the main characteristics of the cycle, including the length, amplitude, asymmetry and changes of these parameters during expansions and contractions. It then studies the degree of economic and financial cycle synchronisation between OECD countries but also of economic and financial variables within a given country, and gauges the extent to which cycle synchronisation changed over time. Finally, the paper provides some new evidence on the drivers of the great moderation and analyses the banking sector's pro-cyclicality by using aggregate and bank-level data. The main findings show that the amplitude of the real business cycle was becoming smaller during the great moderation, but asset price cycles were becoming more volatile. In part this was linked to developments in the banking sector which tended to accentuate pro-cyclical behaviour Economics Sutherland, Douglas ctb https://doi.org/10.1787/5k9h28k3gt24-en Verlag kostenfrei Volltext |
| spellingShingle | Égert, Balázs The Nature of Financial and Real Business Cycles The Great Moderation and Banking Sector Pro-Cyclicality Economics |
| title | The Nature of Financial and Real Business Cycles The Great Moderation and Banking Sector Pro-Cyclicality |
| title_alt | Cycles économiques et financiers |
| title_auth | The Nature of Financial and Real Business Cycles The Great Moderation and Banking Sector Pro-Cyclicality |
| title_exact_search | The Nature of Financial and Real Business Cycles The Great Moderation and Banking Sector Pro-Cyclicality |
| title_exact_search_txtP | The Nature of Financial and Real Business Cycles The Great Moderation and Banking Sector Pro-Cyclicality |
| title_full | The Nature of Financial and Real Business Cycles The Great Moderation and Banking Sector Pro-Cyclicality Balázs Égert and Douglas Sutherland = Cycles économiques et financiers : la grande modération et la pro-cyclicalité du secteur bancaire / Balázs Égert et Douglas Sutherland |
| title_fullStr | The Nature of Financial and Real Business Cycles The Great Moderation and Banking Sector Pro-Cyclicality Balázs Égert and Douglas Sutherland = Cycles économiques et financiers : la grande modération et la pro-cyclicalité du secteur bancaire / Balázs Égert et Douglas Sutherland |
| title_full_unstemmed | The Nature of Financial and Real Business Cycles The Great Moderation and Banking Sector Pro-Cyclicality Balázs Égert and Douglas Sutherland = Cycles économiques et financiers : la grande modération et la pro-cyclicalité du secteur bancaire / Balázs Égert et Douglas Sutherland |
| title_short | The Nature of Financial and Real Business Cycles |
| title_sort | the nature of financial and real business cycles the great moderation and banking sector pro cyclicality |
| title_sub | The Great Moderation and Banking Sector Pro-Cyclicality |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/5k9h28k3gt24-en |
| work_keys_str_mv | AT egertbalazs thenatureoffinancialandrealbusinesscyclesthegreatmoderationandbankingsectorprocyclicality AT sutherlanddouglas thenatureoffinancialandrealbusinesscyclesthegreatmoderationandbankingsectorprocyclicality AT egertbalazs cycleseconomiquesetfinanciers AT sutherlanddouglas cycleseconomiquesetfinanciers |