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100   $a20100329d2009      uf             0
101 0 $aeng
135   $aur|n|---|||||
181   $ctxt
182   $cc
183   $acr
200 00$aThree cycles$b[electronic resource] $ehousing, credit, and real activity /$fprepared by Deniz Igan ... [et al.]
210   $a[Washington, D.C.] $cInternational Monetary Fund, Research Dept.$d2009
215   $a1 online resource (45 p.)
225 1 $aIMF working paper ;$v09/231
300   $a"October 2009."
311   $a1-4519-1796-1 
327   $aCover Page; Title Page; Copyright Page; Contents; I. Introduction; II. Methodology; A. Common versus Idiosyncratic Components; B. Measures of Comovement; C. Characteristics of Cycles; III. Data and Data Transformations; A. Data; B. Unit Root Tests; 1. Unit Root Tests; C. Band-Pass Filter; 1. Filtered versus Differenced Series; 2. Variance Shares; IV. Results; A. Domestic Cycles; 2. Total Cyclical Movements of Real GDP, Credit and House Prices; 3. Cycle Characteristics; 4. Characteristics of Mortgagee Markets; 5. Correlation Coefficients for Total Cyclical Components
327   $a6. Leads and Lags between Cycles within Countries7. Evolution of Cyclical Movements Driven by Common Components; 3. Total Cyclical Movements versus Common Components in Selected Countries Real GDP; 4. Common Components for Selected Countries; B. International Comovement of Cycles; 8. Lead-Lag Relations between the United States and Other Countries; V. Conclusion; Appendix: Data Coverage and Sources; References; Footnotes
330   $aWe examine the characteristics and comovement of cycles in house prices, credit, real activity and interest rates in advanced economies during the past 25 years, using a dynamic generalized factor model. House price cycles generally lead credit and business cycles over the long term, while in the short to medium term the relationship varies across countries. Interest rates tend to lag other cycles at all time horizons. While global factors are important, the U.S. business cycle, house price cycle and interest rate cycle generally lead the respective cycles in other countries over all time hori
410  0$aIMF working paper ;$vWP/09/231.
606   $aBusiness cycles
606   $aConsumer credit
606   $aInternational economic relations
608   $aElectronic books.
615  0$aBusiness cycles.
615  0$aConsumer credit.
615  0$aInternational economic relations.
676   $a338.54
701   $aIgan$b Deniz$0873077
712 02$aInternational Monetary Fund.$bResearch Dept.
801  0$bMiAaPQ
801  1$bMiAaPQ
801  2$bMiAaPQ
906   $aBOOK
912   $a9910463686603321
996   $aThree cycles$92286488
997   $aUNINA