... when agency costs are low. The purpose of this paper is to empirically test these hypotheses with regard to equity markets. Design/methodology/approach The authors use business cycle identification algorithms to map rating events (credit rating changes and watchlist inclusions) to business cycle...

... Limited 2006 Insurance Business cycles Data analysis By far the most quantitative studies dealing with cyclical fluctuations in underwriting profits have used autoregressive integrated moving average (ARIMA) methods. Spectral analysis, an alternate tool often used in engineering...

.... This situation is inherently temporary and adjustments create shocks that could generate an underwriting cycle (Cummins et al., 1991 ; Harrington and Niehaus, 2000). Business cycles Reinsurance Underwriting France Germany Switzerland The underwriting cycle in the property‐liability...