Investment of Czech Institutional Sectors in the Business Cycle

Lukáš Kučera

European Financial and Accounting Journal, 2014, vol. 2014, issue 1, 41-61

Abstract: Paper deals with the analysis of investment in the business cycle. Analysis is based on available quarterly data for the Czech Republic since 1st quarter 1999 till 1st quarter 2014. It concludes that investment on the macroeconomic level is highly pro-cyclical component of demand, which fluctuates in the business cycle more than GDP. Investment of individual institutional sectors, which together forms investment of the national economy, behaves in the business cycle highly differentiated. Investment of households, for example, develops the same way as GDP and its volatility is quite low. Investment of government institutions, on the contrary, is strongly volatile, and in addition, develops slightly anti-cyclically. It applies therefore, that cyclical component of investment of the national economy is very heterogeneous.

Keywords: Business cycle; Institutional sectors; Investment (search for similar items in EconPapers)
JEL-codes: E22 E32 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
http://efaj.vse.cz/doi/10.18267/j.efaj.114.html (text/html)
http://efaj.vse.cz/doi/10.18267/j.efaj.114.pdf (application/pdf)
free of charge

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:prg:jnlefa:v:2014:y:2014:i:1:id:114

Ordering information: This journal article can be ordered from
European Financial and Accounting Journal, University of Economics, Prague, nám. W. Churchilla 4, 130 67 Prague 3, Czech Republic
http://efaj.vse.cz

DOI: 10.18267/j.efaj.114

Access Statistics for this article

European Financial and Accounting Journal is currently edited by Efaj Journal

More articles in European Financial and Accounting Journal from Prague University of Economics and Business Contact information at EDIRC.
Bibliographic data for series maintained by Stanislav Vojir ().