Raihan, Sharif Md.; Wen, Yi; Zeng, Bing - Federal Reserve Bank of St. Louis - 2005
methods of business cycle analysis, such as the correlation analysis and the spectral analysis, cannot capture such historical … information because they do not take the time-varying characteristics of the business cycles into consideration. In this paper, we … introduce and apply a new technique to the studies of the business cycle: the wavelet-based time-frequency analysis that has …