OECD Journal: Journal of Business Cycle Measurement and Analysis, Volume 2015 Issue 1

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

DOI:http://dx.doi.org/10.1787/jbcma-2015-5jrs0lv6xs7b

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 ...



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