This website uses cookies.

By clicking the "Accept" button or continuing to browse our site, you agree to first-party and session-only cookies being stored on your device to enhance site navigation and analyze site performance and traffic. For more information on our use of cookies, please see our Privacy Policy.

  1. Home
  2. Journals
  3. Journal of Economic Perspectives
  4. Spring 1999
  5. Business Cycles in International Historical Perspective

Journal of Economic Perspectives

ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)

Business Cycles in International Historical Perspective

  • Susanto Basu
  • Alan M. Taylor
Journal of Economic Perspectives
vol. 13, no. 2, Spring 1999
(pp. 45–68)
Download Full Text PDF
(Complimentary)

Abstract

This paper examines business cycles theoretically and empirically, with a quantitative study based on data for a cross section of countries. Theoretical concerns indicate that the properties of business cycle models depend not only on important structural aspects of the model, such as money neutrality, labor market structure, and price adjustment, but also on the closure of the model in international markets. Econometric considerations suggest that panel data can provide more information about the country-specific versus universal features of cycles. The authors review business cycle properties in a sample of over a dozen counties in light of these issues.

Citation

Basu, Susanto, and Alan M. Taylor. 1999. "Business Cycles in International Historical Perspective." Journal of Economic Perspectives, 13 (2): 45–68. DOI: 10.1257/jep.13.2.45

JEL Classification

  • E32 Business Fluctuations; Cycles
  • F43 Economic Growth of Open Economies
  • N10 Economic History: Macroeconomics and Monetary Economics; Growth and Fluctuations: General, International, or Comparative
There are no comments for this article.
Login to Comment