dc.contributor.author | Grytten, Ola Honningdal | |
dc.contributor.author | Hunnes, Arngrim | |
dc.date.accessioned | 2009-06-10T08:50:39Z | |
dc.date.available | 2009-06-10T08:50:39Z | |
dc.date.issued | 2009-01 | |
dc.identifier.issn | 0804-6824 | |
dc.identifier.uri | http://hdl.handle.net/11250/163142 | |
dc.description.abstract | Within the framework of Keynesian economic theory it is widely taken for granted that short term output fluctuations are mirrored
in corresponding fluctuations in prices. By examining data on prices
and output for a small open raw material based economy, in this case
Norway, 1830-2006, this paper concludes that there isn't a clear positive
correlation between prices and output. Contrary, there is more evidence of a counter-cyclical relationship, indicating that business cycles are more frequently caused by supply-side shocks than demand
side shocks. However, negative demand shocks normally seem to cause lagged negative price responses. | en |
dc.language.iso | eng | en |
dc.publisher | Norwegian School of Economics and Business Administration. Department of Economics | en |
dc.relation.ispartofseries | Discussion paper | en |
dc.relation.ispartofseries | 2009:1 | en |
dc.title | Do prices reflect short-term output fluctuations? : empirical evidence from a small open raw material based economy | en |
dc.type | Working paper | en |
dc.subject.nsi | VDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212 | en |