Relative-Preference Shifts and the Business Cycle

Relative Prices and the Business Cycle

Business Cycle Features In The Iranian Economy

Relative demand shifts and unemployment

Everywhere in the OECD, there has been a shift in relative labor demand away from low-skill workers towards high-skill workers. In the United States, this has led to a decrease in the relative wage of low-skill workers. In Europe, constraints on the relative wage of low-skill workers have led instead to an increase in their unemployment rate, and thus an overall increase in unemployment. As Kru...

Bank Lending Behaviour over the Business Cycle in Iran

This paper studies bank loans over the business cycles in Iran to determine the role of Iranian banks in stabilizing credit. By estimating the long-run relations using dynamic OLS and fully modified OLS estimators, the findings show that real bank lending is positively related to real GDP in the long-run providing evidences of the pro-cyclicality of bank lending in Iran. Hence, Iranian banking ...

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 ...