Statistical Testing of Business Cycle Theories: Business Cycles in the United States of America, 1919–1932 (League of Nations, Geneva, 1939, vol. II, pp. 13–20)

Author(s):  
J. Tinbergen
Author(s):  
Stanislav Kappel

Synchronization of business cycle is one of the main criteria for creation of a monetary union. With increasing synchronization of business cycle, a probability of occurrence of demand and supply shocks, which are asymmetric, decreases. The aim of this contribution is to evaluate synchronicity of business cycle in the euro area and some potential monetary unions. There are MERCOSUR (i.e. Argentina, Brazil, Paraguay, Uruguay and Venezuela), NAFTA (Canada, Mexico and the United States of America). For this aim, correlation analysis and two indexes of cyclical components of GDP are used. The cyclical components of GDP are obtained due to the Hodrick-Prescott filter. The results indicate a high degree of business cycles synchronization among states of the euro area (especially in countries of so called core of the euro area) and states of NAFTA. In opposite, a lower degree of business cycles synchronization was reached among states of MERCOSUR. According to the criterion of business cycle synchronization, NAFTA is more appropriate candidate than MERCOSUR for creation monetary area.


2008 ◽  
pp. 87
Author(s):  
Richard V. Burkhauser ◽  
Takashi Oshio ◽  
Ludmila Rovba

Using kernel density estimation we find that over the 1990s business cycles in the United States and Great Britain the entire distribution of after-tax (disposable) income moved to the right while inequality declined. In contrast, Germany and Japan experienced less growth, a rise in inequality, and a decline in the middle mass of their distributions, that spread mostly to the right, much like in the United States over its 1980s business cycle. Inequality fell within the older populations of all four countries; inequality also fell within the younger populations of the United States and Great Britain, but it rose substantially in Germany and Japan.


2012 ◽  
Vol 13 (4) ◽  
pp. 436-446 ◽  
Author(s):  
Shawn Bushway ◽  
Matthew Phillips ◽  
Philip J. Cook

Abstract This paper analyses the 13 business cycles since 1933 to provide evidence on the old question of whether recessions cause crime. Using data from the United States, we find that recessions are consistently associated with an uptick in burglary and robbery, and a reduction in theft of motor vehicles. There is no statistical association with homicide. These patterns are suggestive of the relative importance of the various channels by which economic conditions influence crime.


1923 ◽  
Vol 17 (3) ◽  
pp. 429-437
Author(s):  
Eugène Borel

From the day on which the United States of America declared that it would not become a party to the League of Nations, the thoughts of many people have naturally turned to the situation created by this abstention, the seriousness of which was necessarily clear to everyone.Some think that the matter should be taken lightly. In their opinion the attitude of the United States can only be transitory and at some future time, which may, however, be still far distant, the country will modify its decision and make up its mind to occupy the place reserved for it in the League of Nations. Others allow themselves to be misguided by a different hope. According to them the League of Nations cannot live and will sooner or later disappear to make place for another grouping of nations which would win the approval and adhesion of the American Republic. Between these extreme views there lie the proposals of those who seek relief in the present situation, basing their expectations either upon such a revision of the Covenant as would satisfy the United States or upon the creation of a world association which would join the United States, the present League of Nations and other states not yet belonging thereto into one great group.


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