Business cycle dynamics A bottom-up approach with Markov-chain measurement
Business cycle dynamics: A bottom-up approach with Markov-chain measurement

Business cycle dynamics can be seen as footprints left by individual decision makers. Tracing those footprints we offer a novel, largely model independent and exogenous measure of the business cycle dynamics. This measure also, allows for distinguishing positive and negative shocks without prior est...

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Bibliographic Details
Main Author: Müller, Christian (Author)
Other Authors: Köberl, Eva (Contributor)
Format: Electronic Book Chapter
Language:English
Published: Paris OECD Publishing 2015
Subjects:
Economics
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
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DE-573
DE-19
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Summary:Business cycle dynamics can be seen as footprints left by individual decision makers. Tracing those footprints we offer a novel, largely model independent and exogenous measure of the business cycle dynamics. This measure also, allows for distinguishing positive and negative shocks without prior estimation. Utilizing more than twentythousand observations of firms surveyed quarterly in the periods (1999-2006), we employ a Markov-chain approach combined with conventional time series econometrics for gauging the dynamics of business cycles. Since we start the analysis with firm level data we label our method the "bottom-up approach"
Physical Description:1 Online-Ressource (21 Seiten) 21 x 28cm
DOI:10.1787/jbcma-2015-5jrs0lv6xs7b

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