Key Features of Australian Business Cycles

 
Author/Editor: Cashin, Paul ; Ouliaris, Sam
 
Publication Date: November 01, 2001
 
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Disclaimer: This Working Paper should not be reported as representing the views of the IMF. The views expressed in this Working Paper are those of the author(s) and do not necessarily represent those of the IMF or IMF policy. Working Papers describe research in progress by the author(s) and are published to elicit comments and to further debate
 
Summary: This paper identifies and describes the key features of Australian business cycles during 1959-2000. In particular, we identify the chronologies in Australia's classical cycle (expansions and contractions in the level of output) and growth cycle (periods of above-trend and below-trend rates of economic growth). We find that while there are large asymmetries in the duration and amplitude of phases in Australia's classical cycle, on both measures the Australian growth cycle is much more symmetric. Further, our results indicate that over the sample period Australian (filtered) output and prices have moved in a counter-cyclical fashion, suggesting a dominance of shocks to aggregate supply affecting the Australian economy.
 
Series: Working Paper No. 01/171
Subject(s): Business cycles | Australia

Author's Keyword(s): business cycles | duration dependence | Australia
 
English
Publication Date: November 01, 2001
ISBN/ISSN: 1934-7073 Format: Paper
Stock No: WPIEA1712001 Pages: 30
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