Stylized facts of business cycles in a transition economy in time and frequency

Petre Caraiani

Economic Modelling, 2012, vol. 29, issue 6, 2163-2173

Abstract: We 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.

Keywords: Business cycles; Filters; Wavelets (search for similar items in EconPapers)
JEL-codes: E32 (search for similar items in EconPapers)
Date: 2012
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Citations: View citations in EconPapers (19)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecmode:v:29:y:2012:i:6:p:2163-2173

DOI: 10.1016/j.econmod.2012.06.014

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