Addo, Peter Martey; Billio, Monica; Guegan, Dominique - Centre d'Économie de la Sorbonne, Université Paris 1 … - 2013
We propose a transparent way of establishing a turning point chronology for the Euro-zone business cycle. Our analysis is achieved by exploiting the concept of recurrence plots, in particular distance plots, to characterize and detect turning points of the business cycle. Firstly, we apply the...