Republic of Korea: Selected Issues

International Monetary Fund

No 2002/020, IMF Staff Country Reports from International Monetary Fund

Abstract: This Selected Issues paper focuses on some of the key stylized facts of Korean business and export cycles over 1960–2001, and calculates a chronology for the classical cycle in these series by applying a variant of the Bry and Boschan (1971) cycle-doling algorithm. It highlights that the Korean classical business cycle and exports cycles are extremely asymmetric, as they exhibit long-lived expansions and much shorter-lived contractions. The results also indicate that the probability of ending a contraction or expansion phase in Korean industrial production and Korean real exports is independent of their duration.

Keywords: ISCR; CR; company; contraction; business cycle; insolvency regime; labor productivity growth; industrial production; overtime pay; optimization model; export cycle; Industrial production; Stock markets; Business cycles; Stocks; Real exports; Global; Europe (search for similar items in EconPapers)
Pages: 122
Date: 2002-02-12
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