Stylized facts of business cycles in a transition economy in time and frequency
AbstractWe 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 InfoArticle provided by Elsevier in its journal Economic Modelling.
Volume (Year): 29 (2012)
Issue (Month): 6 ()
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Web page: http://www.elsevier.com/locate/inca/30411
Business cycles; Filters; Wavelets;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
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