Do Political Parties Foster Business Cycles? An Examination of Developed Economies

2016 ◽  
Author(s):  
Koyin Chang ◽  
Yoonbai Kim ◽  
Marc Tomljanovich ◽  
Frank Ying
Keyword(s):  
Political Parties ◽  
Business Cycles ◽  
Developed Economies

Do political parties foster business cycles? An examination of developed economies

2013 ◽  
Vol 41 (1) ◽  
pp. 212-226 ◽  
Author(s):  
Koyin Chang ◽  
Yoonbai Kim ◽  
Marc Tomljanovich ◽  
Yung-Hsiang Ying
Keyword(s):  
Political Parties ◽  
Business Cycles ◽  
Developed Economies

scholarly journals International Co-movements and Business Cycles Synchronization Among Advanced Economies: A SPBVAR Evidence

2019 ◽  
Vol 8 (4) ◽  
pp. 38
Author(s):  
Antonio Pacifico
Keyword(s):  
Business Cycles ◽  
Financial Stability ◽  
Unobserved Heterogeneity ◽  
Model Misspecification ◽  
Developed Economies ◽  
Country Level ◽  
Institutional Issues ◽  
Advanced Economies ◽  
Dynamic Panels ◽  
Structural Panel

This paper provides new empirical insights in order to give a relevant contribution to the more recent literature on international transmission of shocks and on business cycles synchronization across developed economies, with a particular emphasis in the most recent recession and post-crisis consolidation. Interdependence, commonality and heterogeneity in macroeconomic-financial linkages are also identified in order to depict the perplexed nature of modern economies. A time-varying Structural Panel Bayesian Vector Autoregression (SPBVAR) model is developed to deal with model misspecification and unobserved heterogeneity problems when studying multicountry dynamic panels. The results argue for significant synchronization behind a relevant consolidation without delay. Additionally, consolidation is needed to underpin confidence in fiscal solvency at the country level and prevent adverse international externalities. My evidence calls for more integrated macroprudential and financial stability policies. It also shows that, when formulating policies or forecasting, additional transmission channels and economic-institutional issues through which fiscal contractions influence the dynamics of the GDP growth need to be accounted for in muticountry setups.

Australian PM challenge will hinder policy agenda

2015 ◽  
Keyword(s):  
Political Parties ◽  
Interest Rates ◽  
Prime Minister ◽  
Party Leader ◽  
Content Type ◽  
Developed Economies ◽  
Housing Bubbles ◽  
The Impact ◽  
The Eu

Significance Although a victory in the short term for Abbott, the narrow margin will only intensify doubts about his long-term prospects as party leader and as prime minister. The challenge continues a trend of instability across Australia's main political parties. The country is poised to enter a record 25th year of uninterrupted economic growth, yet has changed prime minister four times since 2007. Impacts Australia will remain one of the most robust developed economies throughout 2015, with growth rates far above those of the EU. The Reserve Bank's decision to cut interest rates indicates that there are worries of the impact of the China-induced mining slowdown. Concerns in state capitals about housing bubbles will grow and may be an issue in the next federal election.

scholarly journals BUSINESS CYCLE ACCOUNTING FOR CHILE

2014 ◽  
Vol 19 (5) ◽  
pp. 990-1022 ◽  
Author(s):  
Ina Simonovska ◽  
Ludvig Söderling
Keyword(s):  
Business Cycles ◽  
Business Cycle ◽  
Broad Class ◽  
Time Varying ◽  
Relative Importance ◽  
Neoclassical Growth Model ◽  
Developed Economies ◽  
Business Cycle Accounting ◽  
Neoclassical Growth ◽  
Policy Discussion

We investigate sources of economic fluctuations in Chile during 1998–2007 within the framework of a standard neoclassical growth model with time-varying frictions (wedges). We analyze the relative importance of efficiency, labor, investment, and government/trade wedges for business cycles in Chile. The purpose of this exercise is twofold: (i) focusing the policy discussion on the most important wedges in the economy and (ii) identifying which broad class of models would present fruitful avenues for further research. We find that different wedges have played different roles during our studied period, but that the efficiency, labor, and investment wedges have had the greatest impact. We also compare our results with existing studies on emerging and developed economies.

scholarly journals International Co-movements and Business Cycles Synchronization Among Advanced Economies: A SPBVAR Evidence

2019 ◽  
Vol 8 (4) ◽  
pp. 68 ◽  
Author(s):  
Antonio Pacifico
Keyword(s):  
Business Cycles ◽  
Financial Stability ◽  
Unobserved Heterogeneity ◽  
Model Misspecification ◽  
Developed Economies ◽  
Country Level ◽  
Institutional Issues ◽  
Advanced Economies ◽  
Dynamic Panels ◽  
Structural Panel

This paper provides new empirical insights in order to give a relevant contribution to the more recent literature on international transmission of shocks and on business cycles synchronization across developed economies, with a particular emphasis in the most recent recession and post-crisis consolidation. Interdependence, commonality and heterogeneity in macroeconomic-financial linkages are also identified in order to depict the perplexed nature of modern economies. A time-varying Structural Panel Bayesian Vector Autoregression (SPBVAR) model is developed to deal with model misspecification and unobserved heterogeneity problems when studying multicountry dynamic panels. The results argue for significant synchronization behind a relevant consolidation without delay. Additionally, consolidation is needed to underpin confidence in fiscal solvency at the country level and prevent adverse international externalities. My evidence calls for more integrated macroprudential and financial stability policies. It also shows that, when formulating policies or forecasting, additional transmission channels and economic-institutional issues through which fiscal contractions influence the dynamics of the GDP growth need to be accounted for in muticountry setups.

Political Parties and the Variable Duration of Business Cycles

1994 ◽  
Vol 60 (4) ◽  
pp. 869 ◽  
Author(s):  
Stephen E. Haynes ◽  
Joe A. Stone
Keyword(s):  
Political Parties ◽  
Business Cycles ◽  
Variable Duration
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