Przeglądaj wg Słowo kluczowe "financial cycle"

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    Folia Oeconomica Cracoviensia, Vol. LVI
    (Krakowska Akademia im. Andrzeja Frycza Modrzewskiego, Polska Akademia Nauk - Oddział w Krakowie - Komisja Nauk Ekonomicznych i Statystyki, 2015) Wójciaczyk, Weronika; Ulman, Paweł; Białkowska, Justyna; Pipień, Mateusz; Lenart, Łukasz; Pipień, Mateusz
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    Własności empiryczne cyklu finansowego - Analiza porównawcza Czech; Polski; Węgier; Wielkiej Brytanii i USA
    (Oficyna Wydawnicza AFM, 2015) Lenart, Łukasz; Pipień, Mateusz
    We discuss the notion of the financial cycle indicating its novelty within the research project of analysing the cyclical nature of fluctuations of economic systems. We focus on the observed series of credit and make formal statistical inference about the properties of the cycles in case of five countries, namely Czech Republic, Great Britain, Hungary, Poland and USA. The non-s tandard subsampling procedure and discrete spectral characteristics of almost periodically correlated time series are applied to make formal statistical inference about the cycle. We extract the cyclical component and confront empirical properties of the financial cycle for small open economy with those established so far in case of developed economies. This research is based partially on the results from Lenart and Pipień (2013a) and Lenart and Pipień (2015).