Some Preliminary Findings on Hong Kong Business Cycles |
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Authors: | Chi Fai Leung & Wing Suen |
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Institution: | University of Hong Kong, Hong Kong |
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Abstract: | This paper presents some preliminary quantitative findings on the characteristics of business cycles in Hong Kong. The recently developed "approximate bandpass filter" is used to extract the fluctuations at business cycle frequencies (8 to 32 quarters) of macroeconomic time series. Based on the filtered time series, the paper identifies the cyclical turning points, describes the pattern of output fluctuations, and examines the co‐movement of various macroeconomic variables. |
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