Business Cycle Indexes: Does a Heap of Data Help?
Business cycle indexes are used to get a timely and frequent description of the state of the economy and its likely development in the near future. This paper discusses two methods for constructing business cycle indexes, the traditional NBER method and a recently developed dynamic factor model, and...
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| Other Authors: | , |
| Format: | Electronic Book Chapter |
| Language: | English |
| Published: |
Paris
OECD Publishing
2005
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| Subjects: | |
| Online Access: | DE-384 DE-473 DE-824 DE-29 DE-739 DE-355 DE-20 DE-1028 DE-1049 DE-521 DE-861 DE-898 DE-92 DE-91 DE-573 DE-19 Volltext |
| Summary: | Business cycle indexes are used to get a timely and frequent description of the state of the economy and its likely development in the near future. This paper discusses two methods for constructing business cycle indexes, the traditional NBER method and a recently developed dynamic factor model, and compares these methods for the euro area. The results suggest that a reliable index can be constructed from a limited number of series that are selected using economic logic. We next decompose this index to identify variables that seem to be driving the euro area cycle.Business cycle indexes are used to get a timely and frequent description of the state of the economy and its likely development in the near future. This paper discusses two methods for constructing business cycle indexes, the traditional NBER method and a recently developed dynamic factor model, and compares these methods for the euro area. The results suggest that a reliable index can be constructed from a limited number of series that are selected using economic logic. We next decompose this index to identify variables that seem to be driving the euro area cycle. This analysis reveals important differences across countries in these driving variables |
| Physical Description: | 1 Online-Ressource (28 Seiten) |
| DOI: | 10.1787/jbcma-v2004-art17-en |
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| spelling | Inklaar, Robert Verfasser aut Business Cycle Indexes Does a Heap of Data Help? Robert Inklaar, Jan Jacobs and Ward Romp Paris OECD Publishing 2005 1 Online-Ressource (28 Seiten) txt rdacontent c rdamedia cr rdacarrier Business cycle indexes are used to get a timely and frequent description of the state of the economy and its likely development in the near future. This paper discusses two methods for constructing business cycle indexes, the traditional NBER method and a recently developed dynamic factor model, and compares these methods for the euro area. The results suggest that a reliable index can be constructed from a limited number of series that are selected using economic logic. We next decompose this index to identify variables that seem to be driving the euro area cycle.Business cycle indexes are used to get a timely and frequent description of the state of the economy and its likely development in the near future. This paper discusses two methods for constructing business cycle indexes, the traditional NBER method and a recently developed dynamic factor model, and compares these methods for the euro area. The results suggest that a reliable index can be constructed from a limited number of series that are selected using economic logic. We next decompose this index to identify variables that seem to be driving the euro area cycle. This analysis reveals important differences across countries in these driving variables Economics Jacobs, Jan ctb Romp, Ward ctb https://doi.org/10.1787/jbcma-v2004-art17-en Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Inklaar, Robert Business Cycle Indexes Does a Heap of Data Help? Economics |
| title | Business Cycle Indexes Does a Heap of Data Help? |
| title_auth | Business Cycle Indexes Does a Heap of Data Help? |
| title_exact_search | Business Cycle Indexes Does a Heap of Data Help? |
| title_exact_search_txtP | Business Cycle Indexes Does a Heap of Data Help? |
| title_full | Business Cycle Indexes Does a Heap of Data Help? Robert Inklaar, Jan Jacobs and Ward Romp |
| title_fullStr | Business Cycle Indexes Does a Heap of Data Help? Robert Inklaar, Jan Jacobs and Ward Romp |
| title_full_unstemmed | Business Cycle Indexes Does a Heap of Data Help? Robert Inklaar, Jan Jacobs and Ward Romp |
| title_short | Business Cycle Indexes |
| title_sort | business cycle indexes does a heap of data help |
| title_sub | Does a Heap of Data Help? |
| topic | Economics |
| topic_facet | Economics |
| url | https://doi.org/10.1787/jbcma-v2004-art17-en |
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