Dalsgaard, Thomas; Elmeskov, Jørgen; Park, Cyn-Young - Economics Department, Organisation de Coopération et … - 2002
This paper first reviews a number of stylised facts concerning OECD country business cycles over the past four decades. In general, the amplitude of business cycles has fallen, driven mainly by declining fluctuations of domestic demand. As a result, international divergencies of cyclical...
