Rosa, Carlo - Center for Operations Research and Econometrics … - 2009
measures to assess the position of the business cycle, such as growth-rate cycles (fluctuations in
production growth). The … measure business and consumer confidence in the euro
area, including Economic Sentiment, EuroCOIN and EuroGrowth.
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Since we … have three different business
cycle indicators that co-move together (see Figure 1), we apply a principal component …