US, Japan and the euro area

There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper 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 US, Japan and the euro area appear quite distinct. Documenting and comparing such international business-cycle features can aid forecasting, model selection and policy analysis etc.

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Alternative title:	comparing business-cycle features
Year of publication:	2003-10-01
Authors:	McAdam, Peter
Publisher:	European Central Bank
Subject:	EU-Staaten \| EU countries \| Japan \| Konjunktur \| Business Cycle \| Konjunkturzusammenhang \| Business cycle transmission \| USA \| United States \| Vergleich \| Comparison

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Extent:	722944 bytes 40 p. application/pdf
Series:	Working paper series / European Central Bank ; 283
Type of publication:	Book / Working Paper
Language:	English
Classification:	C32 - Time-Series Models ; F20 - International Factor Movements and International Business. General ; Business Cycle ; Individual Working Papers, Preprints ; USA ; Japan
Source:	ArchiDok

Persistent link: https://www.econbiz.de/10009635889