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 currently available from this repository. You may be able to access a copy if URLs are provided)

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: https://kar.kent.ac.uk/id/eprint/9420 (The current URI for this page, for reference purposes)
  • Depositors only (login required):

Downloads

Downloads per month over past year