Working Papers, Department of Economics, Lund University
Finnish and Swedish Business Cycles in a Global Context
Abstract: This paper examines the characteristics of business cycles
in and across Sweden and Finland during the postwar period. We find that
output fluctuations in Sweden and Finland are highly correlated to two
measures of the international business cycle, a European and a
non--European common business cycle component. The Swedish but not the
Finnish business cycle becomes more synchronized to the European business
cycle over time whereas the Finnish but not the Swedish business cycle
becomes more synchronized to the non--European business cycle. We also find
that country--specific business cycles in Finland and Sweden are highly
synchronized only during the 1990's.
Keywords: Finnish and Swedish business cycles; World business cycle; European business cycle; symmetry and comovement of cycles; (follow links to similar papers)
JEL-Codes: E32; F41; (follow links to similar papers)
22 pages, September 30, 2001
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