Premium
ANALOGOUS CYCLES WITH LAGGED CO‐MOVEMENT: U.S. AND EAST ASIAN BUSINESS CYCLES
Author(s) -
YAMAGATA Tatsufumi
Publication year - 1998
Publication title -
the developing economies
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.305
H-Index - 30
eISSN - 1746-1049
pISSN - 0012-1533
DOI - 10.1111/j.1746-1049.1998.tb00226.x
Subject(s) - citation , east asia , business cycle , history , movement (music) , economics , library science , keynesian economics , computer science , art , china , archaeology , aesthetics
In selected East Asian economies, the behavior of detrended macroeconomic variables was found to be similar to that observed in the postwar U.S. economy. Consumption and investment are highly procyclical while the balance of trade and the price level are counter-cyclical in most of them. Labor productivity is procyclical in general. The high coherence between U.S. GDP and that of the East Asian economies suggests that business cycles in terms of frequency are also similar between the United States and East Asia. However, the GDP and consumption of East Asian countries do not necessarily co-move well with current U.S. and Japanese GDP and consumption, while East Asian consumption tends to co-move more with lagged U.S. and Japanese consumption