Procyclical and countercyclical variables are variables that fluctuate in a way that is positively or negatively correlated with business cycle fluctuations...

(GDP) is a procyclic indicator. Countercyclical indicators move in the opposite direction to the general economy. The unemployment rate and the wage share...

Similar explanations follow for consumption and investment, which are strongly procyclical. Labor is also procyclical, while capital stock appears acyclical...

additional specific functions have been attributed to them, as noted below: Countercyclical capital requirement – to avoid excessive balance-sheet shrinkage from...

real wages tended to be independent of economic cycles or even slightly procyclical. These contract models also did not make sense from a microeconomic standpoint...