Common and Idiosyncratic Components in Real Output : Further International Evidence /

This paper uses the classical (level) definition of business cycles to analyze the characteristics-duration, amplitude, steepness, and cumulative output movements-of the real GDP series of France, Germany, Italy, the rest of the euro area, and the United States. An index of concordance and its test...

詳細記述

書誌詳細
第一著者: Nadal De Simone, Francisco
フォーマット: 雑誌
言語:English
出版事項: Washington, D.C. : International Monetary Fund, 2002.
シリーズ:IMF Working Papers; Working Paper ; No. 2002/229
オンライン・アクセス:Full text available on IMF
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500 |a <strong>On-Campus Access:</strong> No User ID or Password Required 
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520 3 |a This paper uses the classical (level) definition of business cycles to analyze the characteristics-duration, amplitude, steepness, and cumulative output movements-of the real GDP series of France, Germany, Italy, the rest of the euro area, and the United States. An index of concordance and its test statistic suggest a great deal of comovement/synchronization between output cycles. Following that result, a dynamic factor model is estimated. Output fluctuations are mostly explained by a global common component and an euro area common component. However, idiosyncratic components also matter, especially for France, the rest of the euro area, and the United States. 
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830 0 |a IMF Working Papers; Working Paper ;  |v No. 2002/229 
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