USA, Japan and the Euro Area: Comparing Business-Cycle Features

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. (The full text of this publication is not available from this repository)

The full text of this publication is not available from this repository. (Contact us about this Publication)
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: G.F. 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)
  • Depositors only (login required):