USA, Japan and the Euro Area: Comparing Business-Cycle Features

Peter McAdam ()

International Review of Applied Economics, 2007, vol. 21, issue 1, 135-156

Abstract: There has been much discussion of the differences in macroeconomic performance and prospects between the USA, Japan and the Euro area. Using Markov-switching techniques, we identify and compare specifically their major business-cycle features and examine the case for a common business cycle, asymmetries in the national cycles and, using a number of algorithms, date business-cycle turning points. Despite a high degree of trade and financial linkages, the cyclical features of USA, Japan and the Euro area appear quite distinct. Documenting and comparing such international business-cycle features can, for example, aid the development of business-cycle models and inform policy making.

Keywords: Business cycle; Markov switching; synchronization; turning points (search for similar items in EconPapers)
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (9)

Downloads: (external link)
http://www.tandfonline.com/doi/abs/10.1080/02692170601035066 (text/html)
Access to full text is restricted to subscribers.

Related works:
Working Paper: US, Japan and the euro area: comparing business-cycle features (2003)
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: https://EconPapers.repec.org/RePEc:taf:irapec:v:21:y:2007:i:1:p:135-156

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/CIRA20

DOI: 10.1080/02692170601035066

Access Statistics for this article

International Review of Applied Economics is currently edited by Professor Malcolm Sawyer

More articles in International Review of Applied Economics from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().