Home About Latest Browse RSS Advanced Search

Federal Reserve Bank of Richmond
Richmond Fed Economic Brief
Moving Macroeconomic Analysis beyond Business Cycles
Renee Courtois Haltom
Thomas A. Lubik
Christian Matthes
Fabio Verona
Abstract

When analyzing macroeconomic data, it helps to separate longer-term trends from business cycle fluctuations, which may have distinct causes and respond differently to policy. This Economic Brief presents research that uses a novel methodology to establish stylized facts for four key macroeconomic variables for cycles of different durations. This brief makes the case that research and policy should focus on four aspects of economic fluctuations: a short-term component (cycles of less than two years), a business cycle component (cycles between two and eight years), a medium-term component (cycles up to thirty-two years), and a long-term component (the trend).


Download Full text
Cite this item
Renee Courtois Haltom & Thomas A. Lubik & Christian Matthes & Fabio Verona, "Moving Macroeconomic Analysis beyond Business Cycles" , Federal Reserve Bank of Richmond, Richmond Fed Economic Brief, issue April, pages 1-8, 2019.
More from this series
JEL Classification:
Subject headings:
Keywords: business cycles; fluctuations; wavelet-based filtering
For corrections, contact Christian Pascasio ()
Fed-in-Print is the central catalog of publications within the Federal Reserve System. It is managed and hosted by the Economic Research Division, Federal Reserve Bank of St. Louis.

Privacy Legal