| Author: | Brandner, P. Neusser, K. |
| Title: | Business cycles in open economies - stylized facts for Austria and Germany. |
| Journal: | Weltwirtschaftliches Archiv
1992 : VOL. 128:1, p. 67-87 |
| Index terms: | GERMANY AUSTRIA BUSINESS CYCLES |
| Language: | eng |
| Abstract: | The authors characterize Austrian and German business cycle with filters suggested by Hodrick and Prescott. The stylized facts thereby arising are in accordance with the theory of real business cycles. Results of the calculation show that GNP is more variable in Germany than in Austria, that monetary policy is more important for Germany but is acyclic for Austria and that saving and investment correlate. |
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