The evolution of US and UK GDP components in the time-frequency domain : A continuous wavelet analysis

Show full item record

Title: The evolution of US and UK GDP components in the time-frequency domain : A continuous wavelet analysis
ISBN: 978-952-323-300-3
Author: Crowley, Patrick M. ; Hughes Hallett, Andrew
Organization: Bank of Finland
Series: Bank of Finland Research Discussion Papers
ISSN: 1456-6184
Series year: 2019
Series number: 23/2019
Year of publication: 2019
Publication date: 30.9.2019
Pages: 37
Subject (yso): bruttokansantuote; suhdannevaihtelut
Keywords: Iso-Britannia; Yhdysvallat
JEL: C49; E32; F44; F45; F62
Other keywords: business cycles; growth cycles; time-frequency domain; macroeconomic synchronization; economic policy
Abstract: Understanding the relationship between national income GDP components is an essential part of macroeconomics. This study investigates quarterly real GDP component data for the U.S. and the U.K. and applies continuous wavelet analysis on cross comparisons of the data, from both within and between the two datasets. The results show that the cyclical interactions between consumption and investment are the most complex and most substantial at several different frequencies. The relationship of exports with other macroeconomic variables has also developed over time, likely due to the evolution of an international business cycle.
Rights: https://helda.helsinki.fi/bof/copyright


Files in this item

Total number of downloads: Loading...

Files Size Format View
BoF_DP_1923.pdf 5.068Mb PDF View/Open

This item appears in the following Collection(s)

Show full item record