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We develop a new quarterly real GDP series for post\u2013World War II New Zealand, derive a new \u201cbenchmark\u201d set of classical business cycle turning points, and establish nonparametric classical cycle characteristics. Markov-switching models, estimated by Gibbs-sampling methods, are used to derive mean growth rate and volatility regimes and to add to existing knowledge. The resulting properties, involving cycle asymmetries, volatility, diversity and duration dependence, and differing mean growth rate and volatility regimes, can be used to underpin a next generation of cyclical growth models for New Zealand, in the Bergstrom tradition.<\/jats:p>","DOI":"10.1017\/s0266466608090403","type":"journal-article","created":{"date-parts":[[2009,6,22]],"date-time":"2009-06-22T10:55:12Z","timestamp":1245668112000},"page":"1050-1069","source":"Crossref","is-referenced-by-count":10,"title":["THE NEW ZEALAND BUSINESS CYCLE"],"prefix":"10.1017","volume":"25","author":[{"given":"Viv B.","family":"Hall","sequence":"first","affiliation":[],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"C. 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