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The role of real and nominal variables in defining business cycles: dynamic properties of a hybrid model - an alternative view

Chirwa, Themba G. - Volkswirtschaftliche Fakultät, … - 2009

(inflation) is introduced in the production function and is used to control the severity, persistence and magnitude of a given …

Persistent link: https://www.econbiz.de/10008514891

Real-Time Macroeconomic Monitoring: Real Activity, Inflation, and Interactions

Aruoba, S. Boragan; Diebold, Francis X. - Department of Economics, University of Pennsylvania - 2010

, we focus not only on real activity, which has received most attention to date, but also on inflation and its interaction … aspects concern a real activity decline that was unusually long but less unusually deep, and an inflation decline that was … unusually deep but brief; and (3) its real activity and inflation interactions were strongly positive, consistent with an …

Persistent link: https://www.econbiz.de/10008493139

Private sector balance, financial markets, and U.S. cycle: A SVAR analysis

Casadio, Paolo; Paradiso, Antonio - Volkswirtschaftliche Fakultät, … - 2010

Purpose – Considering the sectoral balance approach of Godley, and focusing only on the two main components of the private sector balance for the U.S. economy (household and non-financial corporate balance), we investigate the relationship between these two sectors, the financial variables,...

Persistent link: https://www.econbiz.de/10008788803

The Australian Business Cycle: A New View

Harding, Don - Volkswirtschaftliche Fakultät, … - 2002

In this paper I address the following questions. - Has the business cycle become longer and shallower? And why? - How stabilizing is monetary policy. In answering these questions I summarize recent research undertaken by Adrian Pagan and myself that formalizes the procedures developed by Burns...

Persistent link: https://www.econbiz.de/10005789238

Classical Estimation of Multivariate Markov-Switching Models using MSVARlib

BELLONE, BENOIT - EconWPA - 2005

This paper introduces an upgraded version of MSVARlib, a Gauss and Ox- Gauss compliant library, focusing on Multivariate Markov Switching Regressions in their most general specification. This new set of procedures allows to estimate, through classical optimization methods, models belonging to...

Persistent link: https://www.econbiz.de/10005407938

Business cycle and sector cycles

Pelagatti, Matteo M. - EconWPA - 2005

A methodology based on the multivariate generalized Butterwoth filter for extracting the business cycles of the whole economy and of its productive sectors is developed. The method is then illustrated through an application to the Italian gross value added time series of the main economic sectors.

Persistent link: https://www.econbiz.de/10005119122

Technology shocks, structural breaks and the effects on the business cycle.

Atella, Vincenzo; Centoni, Marco; Cubadda, Gianluca - Dipartimento di Economia, Gestione, Società e … - 2007

This paper contributes to the literature on the role of technology shocks as source of the business cycle in two ways. First, we document that time-series of US productivity and hours are apparently affected by a structural break in the late 60’s, which is likely due to a major change in the...

Persistent link: https://www.econbiz.de/10005748313