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An examination of business cycle features in UK Sectoral Output

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  • Peijie Wang

Abstract

This article examines business cycle features of UK Gross Domestic Product (GDP) sectors with regard to trends, cycles and growth. The empirical study adopts the Kalman filter to decompose these GDP sectors into trend and cycle components. The general model of this study encompasses a number of alternative specifications about trend growth, therefore accommodating diverse views on growth. There is reasonable support in the results for a mean-reverting stochastic growth model for the UK economy. The characteristics in trends and cycles of UK GDP sectors are discussed, focusing on their similarities and differences around business cycles.

Suggested Citation

  • Peijie Wang, 2010. "An examination of business cycle features in UK Sectoral Output," Applied Economics, Taylor & Francis Journals, vol. 42(25), pages 3241-3252.
    • Handle: RePEc:taf:applec:v:42:y:2010:i:25:p:3241-3252
    DOI: 10.1080/00036840802599818
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    Cited by:

    1. Mirza Aqeel Baig & Shahida Wizarat & Javed Iqbal, 2020. "How Pakistani Industries Respond to Local and World Business Cycles," Asian Economic and Financial Review, Asian Economic and Social Society, vol. 10(12), pages 1480-1495, December.
    2. Abbas Valadkhani, 2015. "Asymmetric size-dependent effects of the output gap on inflation: US evidence from the last half a century," Applied Economics, Taylor & Francis Journals, vol. 47(33), pages 3525-3539, July.

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