New evidence on stylized facts of the business cycle : an international investigation (1960-2004)

Tsionas, Michael and Kollintzas, Tryphon and Konstantakopoulou, Ioanna (2008) New evidence on stylized facts of the business cycle : an international investigation (1960-2004). Economics Bulletin, 28 (16): A0. ISSN 1545-2921

Abstract

This paper investigates the business cycles in output and real output in nine countries. We detect the long-run and short-run relationships between the cyclical components of output and real output, using Autoregressive Distributed Lag and Error Correlation Models, respectively.