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economic theory and measurement in the study of business cycles, i.e., ups and downs in overall economic activity. We assess …: the three traditional ones, description, forecasting and policy evaluation, and the one Tinbergen introduced, the … implementation|testing of business cycles. The first three EBCR methods are illustrated for the Netherlands, a typical example of a …
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Bivariate SVAR models employing long-run identifying restrictions are often used to investigate the source of business cycle fluctuations. Their advantage is the simplicity in use and interpretation. However, their low dimension may also lead to a failure of the identification procedure, with...
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A growing body of literature argues that the financial cycle is considerably longer in duration and larger in amplitude than the business cycle and that its distinguishing features became more pronounced over time. This paper proposes an empirical approach suitable to test these hypotheses. We...
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The business cycle has long been the focus of empirical economic research. Until recently statistical analysis of macroeconomic fluctuations was dominated by linear time series methods. Over the past 15 years, however, economists have increasingly applied tractable parametric nonlinear time...
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