Measuring Business Cycle Time

Measuring Business Cycle Time

Measuring Unemployment Composition Over the Business Cycle

This paper proposes a strategy to measure, in a unified setting, how the job finding probability and the job separation probability conditional on observable and unobservable individual characteristics varies over the business cycle. Recent papers by Shimer and Hall point out how new measurements of the job finding probability explain unemployment volatility significantly better than the separa...

Analysis of the Relationship between the Business Cycle and Inflation Gap in Time-Frequency Domain

Controlling the business cycle and minimizing the inflation gap are considered as two major goals for monetary policy. Hence, the policymaker will be able to make more decisive decisions with an awareness of the dynamic relationship and causal relationship between these two variables. Accordingly, the present study uses a discrete and continuous wavelet transform to provide a new understanding ...

International Business Cycle Co-movements through Time

The increasing integration of the world economy in recent decades, through the liberalisation of trade and capital fl ows, has raised the possibility of a more rapid transmission of business cycle fl uctuations across countries, especially those originating in large economies such as the United States. Indeed, over the past 40 years, the Australian and US business cycles have become highly corr...

American Time Use Over the Business Cycle

By the end of 2009, the Great Recession that began in December 2007 had doubled the unemployment rate, reduced stock prices by 25 percent, and lowered housing prices by 10 percent. The advent of the monthly American Time Use Survey (ATUS) in 2003 facilitates a detailed examination of trends in time allocations following these large macroeconomic shocks to the prices of time and assets. Previous...