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Examining complex unit roots in the MENA countries industrial production indices

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  • Haitham A. Al Zoubi
  • Aktham Maghyereh

Abstract

An estimation of complex unit roots is presented based on the standardized periodogram of the Jordanian and Israeli Industrial Production indices over the period 1982-2003. Both indices are found to have six complex cyclical unit roots contents. In contrast, the propagation mechanism rather than impulse tends to drive the business cycles in those economies. Propagation consists of those forces which carry the influences of the shock forward over time and cause deviation from the steady state to be persistent. The periodogram-based cycle duration analysis reveals that both Kitchin and Juglar cycles exist in the Israeli economy. However, no investment cycles are found in the Jordanian economy.

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  • Haitham A. Al Zoubi & Aktham Maghyereh, 2005. "Examining complex unit roots in the MENA countries industrial production indices," Applied Economics Letters, Taylor & Francis Journals, vol. 12(4), pages 255-259.
    • Handle: RePEc:taf:apeclt:v:12:y:2005:i:4:p:255-259
    DOI: 10.1080/1350485042000338644
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    Cited by:

    1. Fukuda, Kosei, 2009. "Measuring major and minor cycles in univariate economic time series," Economic Modelling, Elsevier, vol. 26(5), pages 1093-1100, September.
    2. Hideaki Hirata & Sunghyun Henry Kim & M. Ayhan Kose, 2007. "Sources of Fluctuations: The Case of MENA," Emerging Markets Finance and Trade, Taylor & Francis Journals, vol. 43(1), pages 5-34, February.
    3. Yýlmaz Akdi & Serdar Varlik & Hakan Berument, 2018. "Cycle Duration in Production with Periodicity – Evidence from Turkey," International Econometric Review (IER), Econometric Research Association, vol. 10(2), pages 24-32, September.

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