SWEDISH BUSINESS CYCLES - 1861-1988

We examine Swedish business cycle data for 1861-1988 in the time domain as well as in the frequency domain. There is evidence of a business cycle in the form of considerable spectral mass for cycles between three and eight years. The variability of the series varies considerably over time: for most series it is highest in the inter-war period. Relative variability is fairly stable over time: cross-section ratios between moving standard deviations for the series do not change much. Comovements are also stable over time: correlation coefficients do not change much either.