Schumacher, Christian - In: Vierteljahrshefte zur Wirtschaftsforschung 70 (2001) 4, pp. 352-363
This paper investigates the Euro-area business cycle using a multivariate autoregressive time series model with cointegration. The cointegration restrictions help to identify permanent and transitory shocks which form the stochastic part of trend and cyclical GDP, respectively. The...