This study investigated the degree of synchronization between credit expansion and
financial stability in Malaysia at aggregated and disaggregated levels. The dynamic factor …

We measure the financial cycle of South Africa using three different methodologies. The
financial cycle is identified using credit, house prices and equity prices as indicators, and …

This paper applies a factor‐augmented Markov‐switching model to the S outh A frican
economy to provide an alternative classification of the business cycle and its turning points …

The financial cycle has become a central point of consideration for policymakers since the
2007–2008 financial crisis. This study aims to construct and characterise the aggregate …

This paper considers the extent to which South African households have deleveraged, since
the global financial crisis of 2007/2008. We extend the official South African Reserve Bank …

This study reports on measuring and testing of a Composite Financial Cycle Index (CFCI) as
a modified version of a South African Financial Cycle (FC). This is achieved through the …

This study estimates the financial cycle for Botswana using the Christiano–Fitzgerald band‐
pass filter, unobserved components approach and a Markov switching dynamic factor …

Many analysts use band-pass filters to remove so-called permanent components from output
and then study the remainder, which is then termed the “business cycle”. Building on the …

This chapter provides an analysis of the history of South African business cycles, from 1970
to 2017, focusing on the interaction between long-run growth and short-run cyclical change …

ABSTRACT The SA Reserve Bank (SARB) regularly determines the upper and lower turning
points of the South African business cycle, but this is only completed after all the relevant …