Australian business cycle facts

L. A. Fisher, G. Otto, G. M. Voss

Research output: Contribution to journalArticle

12 Citations (Scopus)

Abstract

This paper documents the post-war business cycle facts for Australia. The Hodrick-Prescott filter is used to remove the trend component from quarterly macroeconomic series. The business cycle facts we report are the volatilities of the cyclical (detrended) series and their cross correlations with cyclical real output. These facts are consistent with the business cycle facts reported for the United States, the United Kingdom and New Zealand with one exception. For most of the period since 1974, the real wage in Australia is strongly counter-cyclical whereas for these countries it is procyclical.

Original languageEnglish
Pages (from-to)300-320
Number of pages21
JournalAustralian Economic Papers
Volume35
Issue number67
Publication statusPublished - 1996

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