Downswing

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Downswing

(1) A downward turn in a security's price after a period of flat or rising prices (market top). (2) The period during which a security's price trends downwards.
References in periodicals archive ?
Figure 16 shows the separate contributions of world (SDR) import and export prices to each of the upswings and downswings (shown in figure 8) in New Zealand's terms of trade.
Upswings have been larger than the median in the sample (figure 22), but downswings have been relatively short (figure 23).
In the case of imports, upswing cycles have been relatively small (figure 24), while the downswings have been slightly larger than the median of the sample (figure 25).
Our results imply a limited flexibility of labor markets in transition economies and mostly larger unemployment response in downswing than upswing regimes implying poor job growth in recoveries in all countries except for Latvia, Poland, Slovak Republic and Slovenia.
We assume that the unemployment rate follows a two-regime Markov process: [s.sub.t]= 1 can be considered as an upswing regime in the economy and [s.sub.t]= 2 is a downswing regime.
where [p.sub.ij] are the fixed transition probabilities of being in an upswing or downswing regime, respectively.
Clark said the sequence of the downswing should go as follows: The big muscles of the body should initiate the downswing, followed by the arms, then the hands then finally the golf club.
The findings support the view that innovation-based growth and job creation may operate in drastically different ways during different phases of the cycle, suggesting the need to move beyond the assumption that employment dynamics are affected by the same factors and in the same way in upswings and downswings. In particular, the key role of demand in shaping job creation has to be integrated with new attention to industry-specific innovative strategies, which have contrasting employment effects over the cycle.
In endogenous growth studies, downswings can stimulate productivity and foster long-term growth through a process of restructuring and reorganization of activities where inefficient firms are crowded out, raising the rate of productivity growth of the whole economic system (Caballero and Hammour, 1991; Aghion and Saint-Paul, 1998).
Conversely, during downswings, the lack of demand may discourage the introduction of new products and may increase competition based on costs and prices, leading industries to focus on new processes that allow labour saving and cost cutting in the context of restructuring and exit of less-efficient firms.
It seeks to critically evaluate the performance of capitalist economies according to whether they are undergoing long wave upswing (above 2.5 percent GDP growth per capita over at least 15 years); mixed results (between 2.01 and 2.5 percent growth per capita); and long wave downswing (below 2.01 percent growth per capita).
Long wave theory is the philosophy that capitalism undergoes long movements in core performance, including upswing and downswing, beyond simply business cycles.