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Pater Robert (University of Information Technology and Management in Rzeszów, Poland)
The UK Business Cycle and the Structure of the Economy
Prace i Materiały Instytutu Rozwoju Gospodarczego / Szkoła Główna Handlowa, 2015, nr 97, s. 67-93, tab., wykr., bibliogr. 56 poz.
Tytuł własny numeru
Economic cycles and uncertainty
Słowa kluczowe
Cykl koniunkturalny, Struktura gospodarcza, Modele ekonomiczne
Business cycles, Economic structure, Economic models
It is widely known that various sectors of an economy may react differently to the business cycle, and, on the other hand, it may be affected by sector-specific shocks. Not much light has been shed so far on the impact of the business cycle on the structure of an economy, and vice versa. This study models and empirically tests the relationship, using data on the United Kingdom economy, 1963Q1-2011Q4. The structure of the economy is analyzed taking into account gross value added and employment in NACE Rev1.1 sections (6-branch division). Gross value added is additionally analyzed from the expenditure point of view. The unobserved component model and SVAR/SVEC models are used. The business cycle is found to influence and be influenced by the structure of the economy. Some effects may persist longer than one cycle, affecting the long-run path of the economy. (original abstract)
Dostępne w
Biblioteka Szkoły Głównej Handlowej w Warszawie
Biblioteka Główna Uniwersytetu Ekonomicznego w Katowicach
Pełny tekst
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