Front Matter
Author:
Mr. Francisco d Nadal De Simone
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European I Department

Authorized for distribution by Robert Ford

Contents

  • I. Introduction

  • II. Measuring the Cycle

    • A. Definition of Cycle

    • B. Cycle Characteristics

  • III. Concordance and Synchronization

  • IV. A Common Component Model

    • A. The Model

    • B. Empirical Results

  • V. Summary and Policy Implications

  • Tables

  • 1. Business Cycle Characteristics

  • 2. Concordance, Correlation and t-Statistics

  • 3. Elliot, Rothenberg, and Stock Test for Unit Root Statistics

  • 4. Estimated Single-Index Model of Common Global Component in Real GDP

  • 5. Marginal Significance Levels of Diagnostic Test for Single-Index Model of Global Common Component

  • 6. Estimated Single-Index Model of Regional Common Component in Real GDP

  • 7. Marginal Significance Levels of Diagnostic Test for Single-Index Model of Regional Common Component

  • Figures

  • 1. Turning Points of Real GDP

  • 2. Idiosyncratic Factors of Real GDP

  • References

  • Collapse
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Common and Idiosyncratic Components in Real Output: Further International Evidence
Author:
Mr. Francisco d Nadal De Simone