Yamagata, Tatsufumi - In: The Developing Economies 36 (1998) 4, pp. 407-439
In selected East Asian economies, the behavior of detrended macroeconomic variables was found to be similar to that observed in the postwar U.S. economy. Consumption and investment are highly procyclical while the balance of trade and the price level are counter-cyclical in most of them. Labor...