We develop a multivariate unobserved components model to extract business cycle and financial cycle indicators from a panel of economic and financial time series of four large developed economies. Our model is flexible and allows for the inclusion of cycle components in different selections of...

The epidemiological literature discusses two contrary hypotheses that describe life course variations in the income-to-health relationship: the cumulative advantage and the age as leveller hypothesis. Since related micro level studies are criticised due to an income-rank effect, this study...

We develop a multivariate unobserved components model to extract business cycle and financial cycle indicators from a panel of economic and financial time series of four large developed economies. Our model is flexible and allows for the inclusion of cycle components in different selections of...

The epidemiological literature discusses two contrary hypotheses that describe life course variations in the income-to-health relationship: the cumulative advantage and the age as leveller hypothesis. Since related micro level studies are criticised due to an income-rank effect, this study...

The paper proposes a structural approach to VAR analysis in panels, which takes into account responses to both idiosyncratic and common structural shocks, while permitting full cross member heterogeneity of the response dynamics. In the context of this structural approach, estimation of the...