After conceptual clarification of "international business cycle" and a review of the literature, a new indicator is proposed. This indicator refers to two time series only and allows for an interna-tionally comparable quantification of a country's position in the business cycle. We then...

The finance-growth nexus is discussed, and a framework for empirical analysis is formulated. Based on data for 93 countries from 1960–1990, a growth equation is estimated. It includes the standard regressors as well as a new proxy for financial activity and interaction effects of the latter...

This article presents a multi-sectoral composite indicator for the Swiss GDP growth rate, targeting a lead of two quarters. The in-sample period ranges from 1991 to 2002 and 14 data points are reserved as out of sample to assess the forecasting performance. The results appear promising, in terms...

After conceptual clarification of international business cycle and a review of the literature, a new indicator is proposed. This indicator refers to two time series only and allows for an internationally comparable quantification of a country's position in the business cycle. We then calculate...