Cover IMF Staff Country Reports
Republic of Korea: Selected Issues
Author: International Monetary Fund
Series:
IMF Staff Country Reports
Volume/Issue:
Volume 2002: Issue 020
Language:
English
Publication Date:
12 Feb 2002
DOI:
https://doi.org/10.5089/9781451822069.002
ISBN:
9781451822069
ISSN:
1934-7685
Pages:
122
Keywords:
ISCR; CR; company; contraction; business cycle; insolvency regime; labor productivity growth; industrial production; overtime pay; optimization model; export cycle; Industrial production; Stock markets; Business cycles; Stocks; Real exports; Global; Europe
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This Selected Issues paper focuses on some of the key stylized facts of Korean business and export cycles over 1960–2001, and calculates a chronology for the classical cycle in these series by applying a variant of the Bry and Boschan (1971) cycle-doling algorithm. It highlights that the Korean classical business cycle and exports cycles are extremely asymmetric, as they exhibit long-lived expansions and much shorter-lived contractions. The results also indicate that the probability of ending a contraction or expansion phase in Korean industrial production and Korean real exports is independent of their duration.
Cover IMF Staff Country Reports
IMF Staff Country Reports
ISSN:
1934-7685
Publisher:
International Monetary Fund