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
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Englisch
- Bibliographic citation
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Series: Discussion Papers ; No. 131
- Classification
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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
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Business cycles
history of monetary activity.
- Event
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Geistige Schöpfung
- (who)
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Grünfeld, Leo Andreas
- Event
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Veröffentlichung
- (who)
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Statistics Norway, Research Department
- (where)
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Oslo
- (when)
-
1994
- Handle
- Last update
-
10.03.2025, 11:43 AM CET
Data provider
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. If you have any questions about the object, please contact the data provider.
Object type
- Arbeitspapier
Associated
- Grünfeld, Leo Andreas
- Statistics Norway, Research Department
Time of origin
- 1994