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Key Features of Australian Business Cycles

Author/Editor: Cashin, Paul | Ouliaris, Sam
Authorized for Distribution: November 1, 2001
Electronic Access: Free Full Text (PDF file size is 1,022KB)
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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  
    Published:   November 1, 2001        
    ISBN/ISSN:   1934-7073   Format:   Paper
    Stock No:   WPIEA1712001   Pages:   30
    Price:   US$15.00
       
     
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