BUSINESS INFORM №9-2017

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18

Section: Economic and Mathematical Modeling
UDC 330.33(332.05)
Revyakin G. V.
The Regularities of the Cyclical Development of the World Economy in the Current Phase (p. 106 - 111)
The article is aimed at identifying and describing the key tendencies in the cyclical development of the world economy. In order to allocate the cyclical component in the dynamics of the world-wide GDP growth, a time series decomposition was performed using the Hodrick-Prescott filter and the relationship of economic cycles to the dynamics of different indicators of economic conditions was analyzed. The persistent relationship between inflation, unemployment and the current phase of the economic cycle have been identified and described. The truth of the Phillips curve has been empirically demonstrated: existence of an inverse relationship between the rate of inflation and the level of unemployment. A new classification of branches of economy has been provided according to their susceptibility to the current phase of the economic cycle. According to this criterion, all branches of economy have been divided into the cyclical and the non-cyclical sectors. A hypothesis that there is a direct relationship between the average annual growth rate of GDP and the structure of the national economy has been suggested.
Keywords: economic cycles, macroeconomic dynamics, world economy.
Fig.: 6. Bibl.: 11.

Revyakin Georgy V. – Postgraduate Student, Department of World Economy and International Economic Relations, V. N. Karazin Kharkiv National University (4 Svobody Square, Kharkіv, 61022, Ukraine)
Email: [email protected]

Article is written in Russian
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Reference to this article:
Revyakin, Georgy V. (2017) “The Regularities of the Cyclical Development of the World Economy in the Current Phase.” Business Inform 9:106–111.

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