This paper extends the methodology for a simultaneous detecting of business and growth cycle, already developed for the euro area, to its major member countries. The best performing indicators for each country are identified through a simulation exercise. An indirect pair of turning point...

The paper discusses the problem related to seasonal adjustment of euro area short term statistics, with the implications of the availability of member states data at the end of the sample, the alternative strategies to derive the aggregate index and the recommendations of the ESS Guidelines on...

In the paper we introduce a system for statistical detection of turning points in the euro area based on the class of multivariate Markov-switching models. Component series considered in the application are monthly short term statistics released by Eurostat, business and consumer surveys...

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...