Arbeitspapier

Monetary Aspects of Business Cycles in Norway. An Exploratory Study Based on Historical Data

Based on the methodology developed by Hodrick & Prescott (1980), it is shown that monetary activity in Norway by no means obeys the cyclical patterns described by Lucas (1983). By constructing annual time series covering monetary data from 1900 to 1992, combined with the use of varying filtering parameter values, it is demonstrated that only credit volume has followed a procyclical pattern. Furthermore, prices are found to be countercyclical during the post war period. Tests of relative volatility and cyclical skewness are presented as well as prospects for future studies of business cycles in Norway based on historical data.

Language
Englisch

Bibliographic citation
Series: Discussion Papers ; No. 131

Classification
Wirtschaft
Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: Pre-1913
Economic History: Macroeconomics and Monetary Economics; Industrial Structure; Growth; Fluctuations: Europe: 1913-
Business Fluctuations; Cycles
Subject
Business cycles
history of monetary activity.

Event
Geistige Schöpfung
(who)
Grünfeld, Leo Andreas
Event
Veröffentlichung
(who)
Statistics Norway, Research Department
(where)
Oslo
(when)
1994

Handle
Last update
10.03.2025, 11:43 AM CET

Data provider

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Object type

  • Arbeitspapier

Associated

  • Grünfeld, Leo Andreas
  • Statistics Norway, Research Department

Time of origin

  • 1994

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