Journal of Business Cycle Measurement and Analysis

Frequency
3 times a year
ISSN: 
1729-3626 (online)
ISSN: 
1729-3618 (print)
DOI: 
10.1787/17293626
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The Journal of Business Cycle Measurement and Analysis has been discontinued as of 24 June 2016. This journal was published jointly with CIRET from 2004 to 2015. For more information see www.ciret.org/jbcy.

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Article
 

The Cyclical and Trend Behavour of Australian Investment and Savings You do not have access to this content

English
 
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    http://oecd.metastore.ingenta.com/content/3307031ec006.pdf
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Author(s):
Bruce Felmingham, Arusha Cooray
22 July 2008
Pages:
20
Bibliographic information
No.:
18,
Volume:
2007,
Issue:
3
Pages:
367–386
DOI: 
10.1787/jbcma-2007-5km7v18rmf8r

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A spectral analysis of the Australian time series for the investment and savings ratios on quarterly data over the period from September 1959 to December 2005 reveals that the major cyclical components of the savings and investment ratios cohere strongly. This suggests there is a medium to long term relationship between investment and savings. Further, the investment and saving ratios cohere strongly with the business cycle suggesting a procyclical pattern of investment and saving behaviour on Australian data. A subsequent long memory analysis reveals that the saving and investment ratios, the investment ratio and real GDP and the savings ratio and real GDP are fractionally cointegrated. The policy implications are explained.

 
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