Business cycles and shocks to financial stability: empirical evidence from a new set of Danish quarterly national accounts 1948-2010

摘要

In Denmark, consistent time series of quarterly national accounts are only available for the period since 1971. Based on a range of quarterly business cycle indicators, this article constructs a set of non-seasonally adjusted quarterly national accounts for Denmark 1948-1971 using the ‘Proportional Denton Least Square Method’. This compilation method is recommended in the International Monetary Fund's manual on quarterly national accounts as the preferred method to compile quarterly national accounts data consistent with an existing set of annual national accounts. Furthermore, the article reviews some of the empirical evidence on the business cycle and the linkages between the financial sector and the real economy in the Danish post-war period that can be uncovered from the new data-set.View full textDownload full textKeywordsquarterly national accounts, Danish economic history, business cycles, monetary transmission, financial stability, band-pass filters, VAR analysisJEL ClassificationC32, C82, E01, E32, E44, E52, N14Related var addthis_config = { ui_cobrand: "Taylor & Francis Online", services_compact: "citeulike,netvibes,twitter,technorati,delicious,linkedin,facebook,stumbleupon,digg,google,more", pubid: "ra-4dff56cd6bb1830b" }; Add to shortlist Link Permalink http://dx.doi.org/10.1080/03585522.2012.651305