Measuring the Sources of Cyclical Fluctuations in the G7 Economies

Marco Centoni (), Gianluca Cubadda () and Alain Hecq ()

Economics & Statistics Discussion Papers from University of Molise, Dept. SEGeS

Abstract: We analyze herein the importance of four types of shocks in contributing to the business cycles of the G7 economies. After disentangling the common permanent and transitory shocks in the G7 outputs, we identify the domestic and foreign components of such shocks for each country. This provides us with quite a flexible palette for understanding the degree of openness of the G7 countries, useful information for the analysis of the strengths and weaknesses of each national economy. Our empirical analysis reveals that the cycles of most of the G7 outputs are dominated by their domestic components and that the foreign components are almost entirely due to permanent shocks.

Keywords: International business cycles; Permanent-Transitory decompositions; serial correlation common features; Frequency domain analysis. (search for similar items in EconPapers)
JEL-codes: C32 E32 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba and nep-mac
Date: 2006-04-28
References: View references in EconPapers View complete reference list from CitEc
Citations View citations in EconPapers (1) Track citations by RSS feed

Downloads: (external link)
http://web.unimol.it/progetti/repec/mol/ecsdps/ESDP06028.pdf (application/pdf)

Related works:
Working Paper: Measuring the Sources of Cyclical Fluctuations in the G7 Economies (2007)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: http://EconPapers.repec.org/RePEc:mol:ecsdps:esdp06028

Access Statistics for this paper

More papers in Economics & Statistics Discussion Papers from University of Molise, Dept. SEGeS
Contact information at EDIRC.
Series data maintained by Claudio Lupi ().