Modeling the European cycle with factor structure and regime switching

Jose Cancelo

International Advances in Economic Research, 2004, vol. 10, issue 2, 87-99

Abstract: This paper compares the stylized facts of the European growth cycle stemming from the Gross Domestic Product (GDP) of the European Monetary Union with an unobserved common factor derived from a dynamic factor model with regime switching. The aim of this paper is to provide empirical evidence about the most adequate indicator for short-term monitoring of the cyclical state of the European economy. Copyright International Atlantic Economic Society 2004

Date: 2004
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DOI: 10.1007/BF02295672

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