Multivariate Classi cation of Business Phases
نویسنده
چکیده
We propose multivariate classiication as a statistical tool to describe business cycles. These cycles are often analyzed as a univariate phenomenon in terms of GNP or industrial net production ignoring additional information in other economic variables. Multivariate classiication overcomes these limitations by reducing dimension in a way suitable for human perception. Based on a four phase scheme (upswing, upper turning point, downswing, lower turning point) we demonstrate the potential of classiication methods by determining the important economic variables (stylized facts) for the German business cycle.
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تاریخ انتشار 1999