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The cyclical behaviour of prices: G-7 versus non-G7 countries

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Abstract:

The cyclical behaviour of prices and inflation is investigated for G-7 and seven non-G7 countries for the postwar period. The quarterly prices are shown to be clearly countercyclical in the G-7 countries, while they are much less so in the non-G7 countries. Inflation is shown to move procyclically and this is more clearly pronounced in the G-7 than non-G7 countries. This discrepancy in results may result from the demand-management policies that these non-G7 countries have adopted in the past and this cautions the students of business cycles to pay attention to the peculiarities of each economy when modelling the business cycle.

Document Type: Research Article

DOI: http://dx.doi.org/10.1080/000368497326895

Publication date: May 1, 1997

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routledg/raef/1997/00000029/00000005/art00014
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