The cyclical behaviour of prices: G-7 versus non-G7 countries

Benjamin Kim

Applied Economics, 1997, vol. 29, issue 5, 683-691

Abstract: The cyclical behaviour of prices and inflation is investigated for G-7 and seven non-G7 countries for the postwar period. The quarterly prices are shown to be clearly countercyclical in the G-7 countries, while they are much less so in the non-G7 countries. Inflation is shown to move procyclically and this is more clearly pronounced in the G-7 than non-G7 countries. This discrepancy in results may result from the demand-management policies that these non-G7 countries have adopted in the past and this cautions the students of business cycles to pay attention to the peculiarities of each economy when modelling the business cycle.

Date: 1997
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DOI: 10.1080/000368497326895

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