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Ciclo economico e stabilizzazione. La storia recente in un confronto internazionale (Business Cycle Stabilization. The Recent History in an International Comparison)
Rivista di Politica Economica (1996)
  • Angelamaria Ancona
  • Leo Bonato
Abstract
We look for the existence of significant changes in the volatility of economic fluctuations in the six largest economies since 1970 by using the methodology that has become standard in the Real Business Cycle literature. We focus on two measures: the volatility in the HP-filtered cyclical component of GDP and the duration of growth cycles identified by the Bry-Boschan procedure. We find a general stabilization of the business cycle in the 1980s, which is however reversed in the 1990s, and is much less pronounced in the U.S. and the U.K. Differences in shocks to input prices seem to be large part of the explanation, with the lack of stabilization possibly pointing at the role of structural reforms in the U.S. and the U.K.
Disciplines
Publication Date
1996
Citation Information
Angelamaria Ancona and Leo Bonato. "Ciclo economico e stabilizzazione. La storia recente in un confronto internazionale (Business Cycle Stabilization. The Recent History in an International Comparison)" Rivista di Politica Economica Vol. 86 Iss. 5 (1996)
Available at: http://works.bepress.com/leo_bonato/6/