TY - JOUR N2 - We discuss the notion of the financial cycle making a clear indication that the thorough study of its empirical properties in case of developing economies is still missing. We focus on the observed series of credit and equity and make formal statistical inference about the properties of the cycles in case of Polish economy. The non-standard subsampling procedure and discrete spectral characteristics of almost periodically correlated time series are applied to make formal statistical inference about the cycle. We compare the results with those obtained for UK and USA. We extract the cyclical component and confront empirical properties of the financial cycle for small open economy with those established so far in case of developed economies. L1 - http://www.czasopisma.pan.pl/Content/103725/PDF-MASTER/mainFile.pdf L2 - http://www.czasopisma.pan.pl/Content/103725 PY - 2015 IS - No 3 EP - 186 DO - 10.24425/cejeme.2015.119216 KW - financial cycle KW - business cycle KW - discrete spectral analysis KW - APC processes KW - subsampling approach A1 - Lenart, Łukasz A1 - Pipień, Mateusz PB - Oddział PAN w Łodzi DA - 30.09.2015 T1 - Empirical Properties of the Credit and Equity Cycle within Almost Periodically Correlated Stochastic Processes - the Case of Poland, UK and USA SP - 169 UR - http://www.czasopisma.pan.pl/dlibra/publication/edition/103725 T2 - Central European Journal of Economic Modelling and Econometrics ER -