The Spectral Envelope: An Application to the Decoupling Problem in Economics

Dilip M. Nachane () and Amlendu Dubey ()
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Dilip M. Nachane: Indira Gandhi Institute of Development Research (IGIDR)
Amlendu Dubey: Indian Institute of Technology Delhi

Journal of Quantitative Economics, 2021, vol. 19, issue 1, No 14, 287-308

Abstract: Abstract In this paper we introduce the technique of spectral envelope into the analysis of the decoupling problem among economies. Decoupling refers to the phenomenon that the business cycles in emerging market economies are de-synchronized from cyclical movements in the advanced economies. The analysis shows that all the countries considered in the sample have a common cycle of approximately 42 months. The results point to a strong possibility of a common global cycle of a periodicity between 3 and 4 years.

Keywords: Spectral envelope; Frequency domain; Dynamic factor analysis; Wavelets; Decoupling; Business cycles (search for similar items in EconPapers)
JEL-codes: C32 F44 F47 (search for similar items in EconPapers)
Date: 2021
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Citations: View citations in EconPapers (2)

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DOI: 10.1007/s40953-021-00272-w

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