McAdam, Peter (2007) USA, Japan and the Euro Area: Comparing Business-Cycle Features. International Review of Applied Economics, 21 (1). pp. 135-156. ISSN 0269-2171.
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| Official URL http://dx.doi.org/10.1080/02692170601035066 |
Abstract
There has been much discussion of the differences in macroeconomic performance and prospects between the USA, Japan and the Euro area. Using Markov-switching techniques, we identify and compare specifically their major business-cycle features and examine the case for a common business cycle, asymmetries in the national cycles and, using a number of algorithms, date business-cycle turning points. Despite a high degree of trade and financial linkages, the cyclical features of USA, Japan and the Euro area appear quite distinct. Documenting and comparing such international business-cycle features can, for example, aid the development of business-cycle models and inform policy making.
| Item Type: | Article |
|---|---|
| Uncontrolled keywords: | Business cycle; Markov switching; synchronization; turning points |
| Subjects: | H Social Sciences |
| Divisions: | Faculties > Social Sciences > School of Economics |
| Depositing User: | Francis Green |
| Date Deposited: | 24 Jul 2008 16:52 |
| Last Modified: | 14 Jan 2010 14:35 |
| Resource URI: | http://kar.kent.ac.uk/id/eprint/9420 (The current URI for this page, for reference purposes) |
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