Towards a Monthly Business Cycle Chronology for the Euro Area:

This paper is an exercise in dating the Euro area business cycle on a monthly basis. Using a quite flexible interpolation routine, we construct several monthly series of Euro area real GDP, and then apply the Bry-Boschan (1971) procedure. To account for the asymmetry in growth regimes and duration a...

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Bibliographic Details
Main Author: Mönch, Emanuel (Author)
Other Authors: Uhlig, Harald (Contributor)
Format: Electronic Book Chapter
Language:English
Published: Paris OECD Publishing 2005
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
URL des Erstveröffentlichers
Summary:This paper is an exercise in dating the Euro area business cycle on a monthly basis. Using a quite flexible interpolation routine, we construct several monthly series of Euro area real GDP, and then apply the Bry-Boschan (1971) procedure. To account for the asymmetry in growth regimes and duration across business cycle phases, we propose to extend this method with a combined amplitude/phase-length criterion ruling out expansionary phases that are short and flat. Applying the extended procedure to US and Euro area data, we are able to replicate approximately the dating decisions of the National Bureau of Economic Research (NBER) and the Centre for Economic Policy Research (CEPR)
Physical Description:1 Online-Ressource (27 Seiten) 16 x 23cm
DOI:10.1787/jbcma-2005-5km7v183t48r

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