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REGOLARITÀ EMPIRICHE DEL CICLO ECONOMICO PER L'ECONOMIA ITALIANA (1960-1993)

Luca Matteo Stanca
Giornale degli Economisti e Annali di Economia
Nuova Serie, Anno 55, No. 2 (Aprile-Giugno 1996), pp. 211-240
Published by: EGEA SpA
Stable URL: http://www.jstor.org/stable/23247911
Page Count: 30
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REGOLARITÀ EMPIRICHE DEL CICLO ECONOMICO PER L'ECONOMIA ITALIANA (1960-1993)
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Abstract

What are the empirical regularities of the Italian business cycle? The present paper tries to answer this question using time series data for the Italian economy for the 1960-1993 period, while taking the other G7 countries as terms of comparison. The robustness of the stylized facts of the business cycle to the use of different detrending procedures and of alternative reference indicators is examined. It is shown that some commonly believed regularities are indeed dismissed by the data, with the most striking example being the procyclical behaviour of prices. The analysis also highlights certain business cycle features which appear to be specific to the Italian economy. Finally, a number of methodological recommendations are made for the empirical analysis of the business cycle.

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