Common and idiosyncratic components in real output : further international evidence /

Common and idiosyncratic components in real output : further international evidence /

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Bibliographic Details
Author / Creator:	Nadal-De Simone, Francisco.
Imprint:	[Washington, D.C.] : International Monetary Fund, ©2002.
Description:	1 online resource (19 pages) : illustrations
Language:	English
Series:	IMF working paper, 2227-8885 ; WP/02/229 IMF working paper ; WP/02/229.
Subject:	Business cycles -- Econometric models. Industrial productivity -- Econometric models. Gross domestic product -- Econometric models. Recessions -- Econometric models. Production (Economic theory) -- Econometric models. Time and economic reactions -- Econometric models. Business cycles -- Econometric models. Gross domestic product -- Econometric models. Industrial productivity -- Econometric models. Production (Economic theory) -- Econometric models. Recessions -- Econometric models. Time and economic reactions -- Econometric models.
Format:	E-Resource Book
URL for this record:	http://pi.lib.uchicago.edu/1001/cat/bib/12496764

Hidden Bibliographic Details
Other authors / contributors:	International Monetary Fund. European I Department.
ISBN:	1283512262 9781283512268 1451920083 9781451920086 1462385982 9781462385980 1452794421 9781452794426 9786613824714 6613824712
Notes:	Includes bibliographical references (pages 18-19). Restrictions unspecified Electronic reproduction. [Place of publication not identified] : HathiTrust Digital Library, 2010. Master and use copy. Digital master created according to Benchmark for Faithful Digital Reproductions of Monographs and Serials, Version 1. Digital Library Federation, December 2002. http://purl.oclc.org/DLF/benchrepro0212 English. digitized 2010 HathiTrust Digital Library committed to preserve Print version record.
Summary:	This paper uses the classical (level) definition of business cycles to analyze the characteristics-duration, amplitude, steepness, and cumulative output movements-of the real GDP series of France, Germany, Italy, the rest of the euro area, and the United States. An index of concordance and its test statistic suggest a great deal of comovement/synchronization between output cycles. Following that result, a dynamic factor model is estimated. Output fluctuations are mostly explained by a global common component and an euro area common component. However, idiosyncratic components also matter, especially for France, the rest of the euro area, and the United States.
Other form:	Print version: Nadal-De Simone, Francisco. Common and idiosyncratic components in real output. [Washington, D.C.] : International Monetary Fund, ©2002
Standard no.:	10.5089/9781451920086.001