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Stylized facts of business cycles in a transition economy in time and frequency

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  • Caraiani, Petre

Abstract

We discuss the properties of business cycles in Romania between 1991 and 2011 using a wavelets based method. We compare it with the standard approaches in literature. We analyze the relationship between output and key macroeconomic variables in time and frequency. While in terms of comovement the results are mostly in line with previous findings, there is a better picture of the time varying features as well as the influence of recessions on the nature of the relationships. The approach applied here can also isolate the influence of specific events, like the accession to the European Union.

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Bibliographic Info

Article provided by Elsevier in its journal Economic Modelling.

Volume (Year): 29 (2012)
Issue (Month): 6 ()
Pages: 2163-2173

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Handle: RePEc:eee:ecmode:v:29:y:2012:i:6:p:2163-2173

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Web page: http://www.elsevier.com/locate/inca/30411

Related research

Keywords: Business cycles; Filters; Wavelets;

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Cited by:
  1. Rita Sousa & Luís Aguiar-Conraria & Maria Joana Soares, 2014. "Carbon Financial Markets: a time-frequency analysis of CO2 price drivers," NIPE Working Papers, NIPE - Universidade do Minho 03/2014, NIPE - Universidade do Minho.

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