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...

This book discusses recent developments in theoretical and empirical business cycle analysis, identifying possible applications of sophisticated tools by private and public institutions involved in the analysis of economic fluctuations and facilitating interaction between academics, researchers...