Tracking Growth and the Business Cycle: A Stochastic Common Cycle Model for the Euro Area

نویسندگان
چکیده

برای دانلود رایگان متن کامل این مقاله و بیش از 32 میلیون مقاله دیگر ابتدا ثبت نام کنید

اگر عضو سایت هستید لطفا وارد حساب کاربری خود شوید

منابع مشابه

Towards a Monthly Business Cycle Chronology for the Euro Area

This paper is an exercise in dating the Euro area business cycle on a monthly basis. Using a quite flexible interpolation routine, we construct several monthly series of Euro area real GDP, and then apply the Bry-Boschan (1971) procedure. To account for the asymmetry in growth regimes and duration across business cycle phases, we propose to extend this method with a combined amplitude/phase-len...

متن کامل

Migration , Unemployment and the Business Cycle - A Euro Area Perspective

In the recent European debt crisis, internal migration flows in the euro area reacted strongly to diverging labor market conditions. This experience points towards the prominent role of short-term business cycle migration in the euro area and the consequent need to understand the motives behind it. We start by an empirical investigation of the business cycle in 59 bilateral migration corridors ...

متن کامل

Business Cycle Synchronization Across the Euro Area: a Wavelet Analysis∗

We use wavelets, cross-wavelets, wavelet-phase analysis, wavelet-clustering and multidimensional mapping to study business cycle synchronization across countries that are part of the Euro12 Area. Based on the wavelet spectra, we propose a metric to measure business cycle disynchronicity. We identify Germany, France, Spain, Austria and the Benelux countries as the core of the Euroland and anothe...

متن کامل

Common macroeconomic shocks and business cycle fluctuations in Euro area countries

Article history: Received 17 September 2014 Received in revised form 23 March 2015 Accepted 24 March 2015 Available online 31 March 2015 This paper investigates the dynamic effects of common macroeconomic shocks in shaping business cycle fluctuations in a group of Euro-area countries. In particular, by using the structural (near) VAR methodology, we investigate the effect of area-wide shocks, w...

متن کامل

Bifurcations in a Stochastic Business Cycle Model

We introduce a stochastic business cycle model and study the underlying stochastic Hopf bifurcations with respect to probability densities at different parameter values. Our analysis is based on the calculate of the largest Lyapunov exponent via multiplicative ergodic theorem and the theory of boundary analysis for quasi-non-integrable Hamiltonian systems. Some numerical simulations of the mode...

متن کامل

ذخیره در منابع من


  با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید

ژورنال

عنوان ژورنال: SSRN Electronic Journal

سال: 2003

ISSN: 1556-5068

DOI: 10.2139/ssrn.441400