Freight Transportation Activity, Business Cycles And Trend Growth
Source: Lund University
This paper studies empirical linkages between cycles and trends in freight transportation activity and real economic activity in Sweden. The authors find that cycles in freight transportation are highly contemporaneously correlated with cycles in economic variables over both the short run and the medium run. The pattern of long run growth in freight transportation activity coincides with growth in economic variables during long periods, but there are also periods with substantial differences. Furthermore, they observe and explain a large decline in trend growth in tonne-kilometres on road from the mid-nineties and onwards.