01751cas a2200265 a 4500 AALejournalIMF000388 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451849554 1018-5941 BD-DhAAL BD-DhAAL Lopez, J. How Long is the Long Run? : A Dynamic Analysis of the Spanish Business Cycle / J. Lopez, Stefania Fabrizio, Angel Ubide. Washington, D.C. : International Monetary Fund, 1997. 1 online resource (31 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This paper studies the sources of Spanish business cycles. It assumes that Spanish output is affected by two types of shocks. The first one has permanent long-run effects on output and it is identified as a supply shock. The second one has only transitory effects on output and it is identified as a demand shock. Spain seems to have long business cycles, of about 15 years. As restrictive demand policies to control the inflation rate could prove painful and disappointing, supply side policies aimed at reducing rigidities in the product and labor market would be a better way to achieve the same objective. Mode of access: Internet Fabrizio, Stefania. Ubide, Angel. IMF Working Papers; Working Paper ; No. 1997/074 Full text available on IMF http://elibrary.imf.org/view/journals/001/1997/074/001.1997.issue-074-en.xml IMF e-Library