Business Cycles around the Globe: A Regime Switching Approach
Sumru Altug () and
No 32, Working Papers from Yildiz Technical University, Department of Economics
This paper characterizes business cycle phenomena in a sample of 22 developed and developing economies using a univariate Markov regime switching approach. It examines the efficacy of this approach for detecting business cycle turning points and for identifying distinct economic regimes for each country in question. The paper also provides a comparison of the business cycle turning points implied by this study and those derived in other studies and by other methods. Our findings document the importance of heterogeneity of individual countries’ experiences. We also argue that consideration of a large and diverse group of countries provides an alternative perspective on the co-movement of aggregate economic activity worldwide.
Keywords: Markov Switching Approach; Business Cycles; Turning Point Analysis; Nonparametric Modelling (search for similar items in EconPapers)
JEL-codes: E32 E37 C32 (search for similar items in EconPapers)
Date: 2010-03, Revised 2010-03
References: Add references at CitEc
Citations Track citations by RSS feed
Downloads: (external link)
Our link check indicates that this URL is bad, the error code is: 404 Not Found
Working Paper: Business Cycles around the Globe: A Regime-switching Approach (2010)
Working Paper: Business Cycles around the Globe: A Regime Switching Approach (2010)
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
Persistent link: https://EconPapers.repec.org/RePEc:yil:wpaper:0032
Access Statistics for this paper
More papers in Working Papers from Yildiz Technical University, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by Seckin Sunal ().