Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/212352 
Authors: 
Year of Publication: 
2016
Series/Report no.: 
Bank of Finland Research Discussion Papers No. 14/2016
Publisher: 
Bank of Finland, Helsinki
Abstract: 
Despite an increase in research – motivated by the global financial crisis of 2007-08 – empirical studies on the financial cycle are rare compared to those on the business cycle. This paper adds some new evidence to this scarce literature by using a different empirical methodology – wavelet analysis – to extract financial cycles from the data. Our results confirm that the U.S. financial cycle is (much) longer than the business cycle, but we do not find strong evidence supporting the view that the financial cycle has lengthened during the Great Moderation period.
JEL: 
C49
E32
E44
Persistent Identifier of the first edition: 
ISBN: 
978-952-323-110-8
Document Type: 
Working Paper

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