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A Note on the Determinants of UK Business Cycles.

Abstract:

In their empirical analysis of Real Business Cycle models for the UK, Holland and Scott (1998) find that they cannot reject the proposition that movements in output are largely determined by 'productivity shocks' which are independent of demand side variables, such as interest rates. In this note we extend their work to allow for the impact of financial liberalisation and credit availability. We find that credit availability has had a significant impact on movements in output, and that, when ...

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Authors


Simon Wren-Lewis More by this author
Series:
Discussion papers
Publication date:
1998
URN:
uuid:9682c683-b7d6-4138-88af-f84f20378fd2
Local pid:
oai:economics.ouls.ox.ac.uk:12109
Language:
English

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