TY  - JOUR
ID  - eprints3500
EP  - 48
KW  - Advanced spectral methods; Business cycles;European Union; Frequency domain; Time domain
TI  - Economic cycles and their synchronization: a
comparison of cyclic modes in three European countries
AV  - none
UR  - http://link.springer.com/article/10.1007/s41549-016-0003-4
SN  - 2509-7962
N2  - The present work applies singular spectrum analysis (SSA) to the study of
macroeconomic 
uctuations in three European countries: Italy, The Netherlands,
and the United Kingdom. This advanced spectral method provides valuable
spatial and frequency information for multivariate data sets and goes far
beyond the classical forms of time domain analysis. In particular, SSA enables
us to identify dominant cycles that characterize the deterministic behavior of
each time series separately, as well as their shared behavior. We demonstrate its
usefulness by analyzing several fundamental indicators of the three countries'
real aggregate economy in a univariate, as well as a multivariate setting. Since
business cycles are international phenomena, which show common characteristics
across countries, our aim is to uncover supranational behavior within the
set of representative European economies selected herein. Finally, the analysis
is extended to include several indicators from the U.S. economy, in order to
examine its in
uence on the European economies under study and their interrelationships.
VL  - 12
Y1  - 2016///
IS  - 1
JF  - Journal of Business Cycle Research
PB  - Springer
A1  - Sella, Lisa
A1  - Vivaldo, Gianna
A1  - Groth, Andreas
A1  - Ghil, Michael
SP  - 25
ER  -