English, Article edition: THE NEW ZEALAND BUSINESS CYCLE Hall, Viv B.; McDermott, C. John

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Bookmark: http://trove.nla.gov.au/version/6631
Physical Description
  • article
Language
  • English

Edition details

Title
  • THE NEW ZEALAND BUSINESS CYCLE
Author
  • Hall, Viv B.
  • McDermott, C. John
Physical Description
  • article
Notes
  • Our paper is in the spirit of Rex Bergstrom's interests and research in cyclical growth models and his meticulous attention to underlying data series. We develop a new quarterly real GDP series for post benchmark set of classical business cycle turning points, and establish nonparametric classical cycle characteristics. Markov-switching models, estimated by Gibbs-sampling methods, are used to derive mean growth rate and volatility regimes and to add to existing knowledge. The resulting properties, involving cycle asymmetries, volatility, diversity and duration dependence, and differing mean growth rate and volatility regimes, can be used to underpin a next generation of cyclical growth models for New Zealand, in the Bergstrom tradition.
  • RePEc:cup:etheor:v:25:y:2009:i:04:p:1050-1069_09
Language
  • English
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