RBA Annual Conference – 2005 Business Cycle Dynamics in OECD Countries: Evidence, Causes and Policy Implications
| Average of contraction phases (peak to trough) | Average of expansion phases (trough to peak) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Number of contractions | Duration (quarters) | Proportion of time in contraction (%) |
Amplitude
(% points) |
Quarterly amplitude (% points) |
Number of expansions | Duration (quarters) | Proportion of time in expansion (%) |
Amplitude (% points) |
Quarterly amplitude (% points) |
||
| Australia(a) | 6 | 2.8 | 13.2 | −2.00 | −0.71 | 6 | 18.7 | 86.8 | 20.41 | 1.09 | |
| Belgium | 7 | 2.9 | 18.3 | −1.64 | −0.58 | 6 | 14.8 | 81.7 | 11.94 | 0.81 | |
| Canada(a) | 3 | 4.0 | 12.6 | −3.21 | −0.80 | 3 | 27.7 | 87.4 | 29.01 | 1.05 | |
| France | 4 | 2.8 | 9.6 | −1.16 | −0.42 | 3 | 34.7 | 90.4 | 23.69 | 0.68 | |
| Germany | 7 | 3.6 | 21.4 | −1.62 | −0.45 | 6 | 15.3 | 78.6 | 12.55 | 0.82 | |
| Italy | 8 | 3.1 | 22.5 | −1.36 | −0.44 | 7 | 12.3 | 77.5 | 10.39 | 0.85 | |
| Japan | 4 | 3.3 | 11.5 | −2.51 | −0.77 | 3 | 33.3 | 88.5 | 38.55 | 1.16 | |
| Netherlands | 4 | 4.0 | 13.9 | −2.09 | −0.52 | 3 | 33.0 | 86.1 | 16.28 | 0.49 | |
| Spain(a) | 4 | 3.0 | 10.3 | −1.12 | −0.37 | 4 | 26.0 | 89.7 | 16.87 | 0.65 | |
| Sweden(a) | 4 | 4.5 | 13.6 | −3.96 | −0.88 | 4 | 28.5 | 86.4 | 18.32 | 0.64 | |
| UK(a) | 4 | 4.8 | 15.6 | −3.69 | −0.78 | 4 | 25.8 | 84.4 | 17.17 | 0.67 | |
| US | 5 | 3.4 | 15.3 | −1.88 | −0.55 | 4 | 23.5 | 84.7 | 26.38 | 1.12 | |
| Average | 5 | 3.5 | 14.8 | −2.19 | −0.61 | 4 | 24.5 | 85.2 | 20.13 | 0.84 | |
|
(a) Data thus far – the expansion continued beyond 2003. Sources: OECD Economic Outlook No 77 database; authors' calculations |
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