Measurement of Business Cycles
AbstractWe describe different ways of measuring the business cycle. Insti- tutions such as the NBER, OECD and IMF do this through locating the turning points in series taken to represent the aggregate level of economic activity. The turning points are determined according to rules that either come from a parametric model or are non-parametric. Once located information can be extracted on cycle characteristics. We also distinguish cases where a single or multiple series are used to represent the level of activity.
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Bibliographic InfoPaper provided by The University of Melbourne in its series Department of Economics - Working Papers Series with number 966.
Length: 13 pages
Date of creation: 2006
Date of revision:
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Postal: Department of Economics, The University of Melbourne, 5th Floor, Economics and Commerce Building, Victoria, 3010, Australia
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Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
This paper has been announced in the following NEP Reports:
- NEP-ALL-2006-06-24 (All new papers)
- NEP-BEC-2006-06-24 (Business Economics)
- NEP-CBA-2006-06-24 (Central Banking)
- NEP-ECM-2006-06-24 (Econometrics)
- NEP-MAC-2006-06-24 (Macroeconomics)
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