Good times are drinking times: empirical evidence on business cycles and alcohol sales in Sweden 1861-2000
This article studies the relationship between the business cycle and alcohol sales in Sweden using a data set for the years 1861-2000. Using wavelet-based band-pass filtering, it is found that there is a pro-cyclical relationship, i.e. alcohol sales increases in short-term economic upturns. Using moving window techniques, we see that the pro-cyclical relationship holds over the entire time period. We also find that alcohol sales are a long-memory process with nonstationary behaviour, i.e. a shock in alcohol sales has persistent effects.
Year of publication: |
2010
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Authors: | Kruger, Niclas ; Svensson, Mikael |
Published in: |
Applied Economics Letters. - Taylor & Francis Journals, ISSN 1350-4851. - Vol. 17.2010, 6, p. 543-546
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Publisher: |
Taylor & Francis Journals |
Saved in:
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