Business Cycles: An International Comparison of Stylized Facts in a Historical Perspective U. Woitek

ISBN: 9783790809978

Published: April 16th 1997

Paperback

209 pages


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Business Cycles: An International Comparison of Stylized Facts in a Historical Perspective  by  U. Woitek

Business Cycles: An International Comparison of Stylized Facts in a Historical Perspective by U. Woitek
April 16th 1997 | Paperback | PDF, EPUB, FB2, DjVu, talking book, mp3, ZIP | 209 pages | ISBN: 9783790809978 | 8.80 Mb

Subject is the description of unvariate and multivariate business cycle stylized facts. A spectral analysis method (Maximum Entropy spectral estimation) novel in the analysis of economic time series is described and utilized. The method turns out toMoreSubject is the description of unvariate and multivariate business cycle stylized facts.

A spectral analysis method (Maximum Entropy spectral estimation) novel in the analysis of economic time series is described and utilized. The method turns out to be superior to widely used time domain methods and the classical spectral estimate, the periodogram. The results for eleven OECD countries confirm and extend the basic set of stylized facts of traditional business cycle theory.

The changing characteristics of the business cycle are analyzed by comparing the cyclical structure for the postwar and the prewar period. The results show that business cycle is mainly due to investment fluctuations.



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