Advanced statistical techniques are used to analyze Hong Kong output dynamics. Hong Kong, Japan and the U.S. are found to share some common long-term and short-term cyclical variations. While the Hong Kong economy is susceptible to external shocks and Granger-caused by the other two economies,...

This study assesses the claim that the Austrian economy depends mainly on the German business cycle. Controlling for possible influences from the U.S. economy, it is confirmed that the Austrian and German industrial production indexes have a common long-term stochastic trend and the German...

We develop a multivariate unobserved components model to extract business cycle and financial cycle indicators from a panel of economic and financial time series of four large developed economies. Our model is flexible and allows for the inclusion of cycle components in different selections of...