Are There Classical Business Cycles?

Michael Reiter and Ulrich Woitek

Working Papers from Business School - Economics, University of Glasgow

Abstract: The aim of this paper is to test formally the classical business cycle hypothesis, using data from industrialized countries for the time period since 1960. The hypoth- esis is characterized by the view that the cyclical structure in GDP is concentrated in the investment series: mixed investment has typically a long cycle, while the cycle in inventory investment is shorter. To check the robustness of our results, we sub- ject the data for 15 OECD countries to a variety of detrending techniques. While the hypothesis is not con rmed uniformly for all countries, there is a considerably high number for which the data display the predicted pattern. None of the coun- tries shows a pattern which can be interpreted as a clear rejection of the classical hypothesis.

Date: 1999-02
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://www.gla.ac.uk/media/media_219066_en.pdf (application/pdf)

Related works:
Working Paper: Are these classical business cycles? (1999)
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:gla:glaewp:1999_05

Access Statistics for this paper

More papers in Working Papers from Business School - Economics, University of Glasgow Contact information at EDIRC.
Bibliographic data for series maintained by Business School Research Team ().