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

Arbeitspapier

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.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: Discussion Papers ; No. 131

Classification and Topics

• 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.

Contributors, Places and Time

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

Further information

• Handle: http://hdl.handle.net/10419/192115
• Last update: 10.03.2025, 11:43 AM CET