The wages of job stayers, and even of those who remain in the same job with the same employer, are still mildly procyclical. |
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The negative relationship in the models they review arises from procyclical movements in real interest rates and in inflation. |
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I would argue that the policies that were most procyclical in recent years were housing finance policies. |
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They use deceptively intuitive procyclical arguments to line their own pockets. |
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It failed to prevent or deal with financial crises in emerging markets because of its aggressively procyclical conditionalities. |
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Currency problems are procyclical, which is to say that they create their own momentum. |
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The employment rate is procyclical, when the economy is doing well more people are working, when it's not doing well, fewer people are working. |
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Empirically, however, sovereign borrowing in developing countries is procyclical, since developing countries have more difficulty accessing capital markets in lean times. |
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