Key Features of Australian Business Cycles

20 Pages Posted: 11 Mar 2004

See all articles by Paul Anthony Cashin

Paul Anthony Cashin

International Monetary Fund (IMF)

Sam Ouliaris

National University of Singapore (NUS) - Department of Economics

Abstract

This paper identifies and describes the key features of Australian business cycles during the period 1959-2002. In particular, we identify the chronologies in Australia's classical cycle (expansions and contractions in the level of output) and growth cycle (periods of above-trend and below-trend rates of economic growth). We find that while there are large asymmetries in the duration and amplitude of phases in Australia's classical cycle, on both measures the Australian growth cycle is much more symmetric. Further, our results indicate that over the sample period Australian (filtered) output and prices have moved in a counter-cyclical fashion, suggesting a dominance of shocks to aggregate supply affecting the Australian economy.

Suggested Citation

Cashin, Paul Anthony and Ouliaris, Sam, Key Features of Australian Business Cycles. Available at SSRN: https://ssrn.com/abstract=513267

Paul Anthony Cashin (Contact Author)

International Monetary Fund (IMF) ( email )

700 19th Street NW
Washington, DC 20431
United States

Sam Ouliaris

National University of Singapore (NUS) - Department of Economics ( email )

1 Arts Link, AS2 #06-02
Singapore 117570, Singapore 119077
Singapore

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