eprintid: 3500
rev_number: 11
eprint_status: archive
userid: 70
dir: disk0/00/00/35/00
datestamp: 2016-06-15 07:24:15
lastmod: 2016-09-08 15:24:10
status_changed: 2016-09-08 15:11:34
type: article
metadata_visibility: show
creators_name: Sella, Lisa
creators_name: Vivaldo, Gianna
creators_name: Groth, Andreas
creators_name: Ghil, Michael
creators_id: 
creators_id: gianna.vivaldo@imtlucca.it
creators_id: 
creators_id: 
title: Economic cycles and their synchronization: a
comparison of cyclic modes in three European countries
ispublished: pub
subjects: HB
divisions: EIC
full_text_status: none
keywords: Advanced spectral methods; Business cycles;European Union; Frequency domain; Time domain
abstract: 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.
date: 2016
date_type: published
publication: Journal of Business Cycle Research
volume: 12
number: 1
publisher: Springer
pagerange: 25-48
id_number: 10.1007/s41549-016-0003-4
refereed: TRUE
issn: 2509-7962
official_url: http://link.springer.com/article/10.1007/s41549-016-0003-4
citation:   Sella, Lisa and Vivaldo, Gianna and Groth, Andreas and Ghil, Michael  Economic cycles and their synchronization: a comparison of cyclic modes in three European countries.  Journal of Business Cycle Research, 12 (1).  pp. 25-48.  ISSN 2509-7962      (2016)