This paper conducts a comparative analysis of the trend and cycle estimates derived from the Hodrick-Prescott method, the Christiano-Fitzgerald approximation and the Harvey and Trimbur model for selected euro area (EA) indicators. These three methods are applied to data spanning the last 3...

This paper proposes a panel Markov-Switching (MS-) VAR model suitable for a multi-country analysis of the business cycle. We study the business cycles fluctuations of a group of countries, analyse the transmission of shocks across cycles and predict the turning points of the country-specific...