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Procyclical and countercyclical variables are variables that fluctuate in a way that is positively or negatively correlated with business cycle fluctuations in gross domestic product (GDP). The scope of the concept may differ between the context of macroeconomic theory and that of economic policy –making.
Vice versa, a countercyclical variable has a negative correlation. An acyclical variable with a correlation close to zero implies no systematic relationship to the business cycle. We find that productivity is slightly procyclical, which suggests workers and capital are more productive when the economy is experiencing a boom.
The wage share (arguably) as countercyclical, but also as a lagging indicator with respect to the employment rate as procyclical indicator in the US Procyclical indicators move in the same direction as the general economy: they increase when the economy is doing well; decrease when it is doing badly. Gross domestic product (GDP) is a procyclic ...
In other words, Florida's raw death tally — 86,850 in early March — came close to California's total, 101,159, despite California having roughly 18 million more residents. The overall death ...
California’s eco-bureaucrats halted a wildfire prevention project near the Pacific Palisades to protect an endangered shrub. It’s just the latest clash between fire safety and conservation in ...
Average mortgage rates open the week with continued declines as of Monday, February 3, 2025, pushing the 30-year benchmark under 7.00%. The Federal Reserve's first meeting of the year concluded ...
Procyclical and countercyclical are terms used to describe how an economic quantity is related to economic fluctuations. Topics referred to by the same term This disambiguation page lists articles associated with the title Procyclic .
Keynes urged active countercyclical efforts of fiscal policy and these efforts are not predestined to fail not even in the new classical theory, only the conditions necessary for the efficiency of countercyclical efforts were specified by new classical macroeconomics. Ricardian equivalence underlines the importance of fiscal reforms, since such ...