US, Japan and the euro area: comparing business-cycle features
Peter McAdam ()
No 283, Working Paper Series from European Central Bank
Abstract:
There has been much discussion of the differences in macroeconomic performance and prospects between the US, Japan and the euro area. Using Markov-switching techniques, in this paper 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 US, Japan and the euro area appear quite distinct. Documenting and comparing such international business-cycle features can aid forecasting, model selection and policy analysis etc. JEL Classification: C32, F20
Keywords: business-cycle; euro area; Japan; US (search for similar items in EconPapers)
Date: 2003-11
Note: 50336
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Citations: View citations in EconPapers (13)
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Related works:
Journal Article: USA, Japan and the Euro Area: Comparing Business-Cycle Features (2007) 
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Persistent link: https://EconPapers.repec.org/RePEc:ecb:ecbwps:2003283
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