A business cycle is, in fact, fluctuations of macroeconomic variables and gross domestic product. These fluctuations play a substantial role in any country. Prosperity and depression have been the most impressive problem in Iranian economy during the last decades so government and politicians...

The purpose of this paper is to examine the effectiveness of the policies and procedures towards economic convergence between the countries that participated in the European Exchange Mechanism I and which are now members states of the Eurozone. The question is whether the introduction of the...

The Taylor hypothesis is the conjecture that the 2007-2009 financial crisis and the 2008-present downturn have been caused by loose monetary policy during 2002-2006. According to the Taylor hypothesis the Fed deviated from well-know rules of monetary policy-making over this period, and this...

This article calculates the sectoral and industrial business cycles by means of the band-pass filters by Baxter and King (1999) and Christiano and Fitzgerald (2003), to subsequently analyze the correlations between the sectors and industries and the overall economy. It can be shown that the...

We build an analytically and computationally tractable stochastic equilibrium model of unemployment in heterogeneous labor markets. Facing search frictions within markets and reallocation frictions between markets, workers endogenously separate from employment and endogenously reallocate between...

Abstract The role of wealth as a determinant of household consumption choices has been thoroughly analysed by economic theory both from macro and micro perspectives; for example, the permanent life-cycle theory links long-run consumption not only to disposable income but also to the net wealth...

This paper has two main objectives. Firstly, to establish and characterise a reference cycle (based on real output) for Barbados over the quarterly period 1974-2003 using the Bry and Boschan algorithm. Secondly, to link this aggregate output cycle to the cycles of the individual sectors that...

The Great Recession of 2007-2009 has not only caused a large wealth loss, it was also followed by a sluggish subsequent recovery. Two years after officially emerging from the recession, the economy was still growing at a low pace and payroll employment was far from reaching its previous peak....

Early detection of a turning point in a business cycle is crucial, as information about the changing phases in business cycles enables policy makers, the business community, and investors to cope better with unexpected events brought about by economic and business situations. The Malaysian...

This paper examines the spatial interaction of neighboring cities over their employment cycles. The cycles of neighboring cities tend to be more similar to one another than are those of non-neighboring cities, although this is due primarily to neighbors' tendency to be in the same state. In...