... that the results of existing studies on the cyclical behavior of BUFs are inconclusive, there is value in studying the cyclical movements of bank regulatory capital buffers in a set of countries that has not been analyzed before. Toward this direction, this is the first empirical study focusing...

... in the next year accompanied even lower growth of 5 percent. Growth in aggregate demand categories like consumption and fixed investment also fell. As against this, the CAD was only 1.3 percent in 2007-2008, a year of high consumption and investment when output grew at above 9 percent. Even so, the cyclical...