Dating of Business Cycles in Austria

Dating of business cycle turning points is an important task for economic policy decisions. Using data from the national accounts, WIFO provides a new dating of business cycle turning point for Austria, Germany and the euro zone for the period of 1976–2005. To this end, WIFO applies a number of filter methods as well as a multivariant method (dynamic factor model). According to the study, the Austrian business cycle responds in harmony with that prevailing in Germany and in the euro zone in general.