This paper investigates the business cycles in output and real output in nine countries. We detect the long-run and short-run relationships between the cyclical components of output and real output, using Autoregressive Distributed Lag and Error Correlation Models, respectively.

This paper investigates the business cycles in output and real output in nine countries. We detect the long-run and short-run relationships between the cyclical components of output and real output, using Autoregressive Distributed Lag and Error Correlation Models, respectively.

This paper investigates the stylized facts of prices and interest rates over the business cycles in nine OECD countries using quarterly data from 1960 to 2004. We examine the stylized facts used various detrending methods. Our findings confirm the existence of substantive cyclical regularities...

In this paper, we apply panel cointegration tests and estimation techniques to obtain efficiency measures when it is uncertain whether the underlying technological relationship is structural or spurious due to possible non-stationarity of the data. We illustrate the dangers of efficiency...