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Investigating the Long Cycles of Capitalism With Spectral and Cross-Spectral Analysis

Author

Listed:
  • Eirini Ozouni

    (Aristotle University of Thessaloniki, Greece)

  • Constantinos Katrakylidis

    (Aristotle University of Thessaloniki, Greece)

  • Grigoris Zarotiadis

    (Aristotle University of Thessaloniki, Greece)

Abstract

The persistent current phase of negative growth has already triggered the awakening of long wave theories. Although long waves are obvious, even with a simple visual observation of the history of the data, doubts as to their existence are expressed by a variety of different theoretical and empirical approaches. However, the increasing number of statistical methods for long wave examination illustrates very clearly that their confirmation, as well as their periodization, depends both on theoretical fixations and / or the use of different empirical methodologies. The present paper uses Spectral Analysis in order to investigate the importance of the long lasting cycles in the periodicity of European Countries' economic evolution. The correlation and timing differences among them are identified with the help of Cross-Spectral analysis.

Suggested Citation

  • Eirini Ozouni & Constantinos Katrakylidis & Grigoris Zarotiadis, 2015. "Investigating the Long Cycles of Capitalism With Spectral and Cross-Spectral Analysis," South-Eastern Europe Journal of Economics, Association of Economic Universities of South and Eastern Europe and the Black Sea Region, vol. 13(1), pages 7-30.
    • Handle: RePEc:seb:journl:v:13:y:2015:i:1:p:7-30
    as

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    References listed on IDEAS

    as
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    More about this item

    Keywords

    Business Cycles; Long Waves; Spectral analysis; Cross-Spectral Analysis;
    All these keywords.

    JEL classification:

    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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