Business Cycles in the Contemporary World : Description, Causes, Aggregation, and Synchronization /
The book provides a thorough and sophisticated descriptive analysis of business cycles in a historical perspective. The study is based on the latest available time series as well as latest techniques from the frequency domain. A combined univariate and bivariate analysis is conducted on the national...
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| Format: | eBook |
| Language: | English |
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Heidelberg :
Physica-Verlag HD : Imprint : Physica,
2003.
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| Series: | Contributions to economics.
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| Online Access: | Connect to the full text of this electronic book |
| Summary: | The book provides a thorough and sophisticated descriptive analysis of business cycles in a historical perspective. The study is based on the latest available time series as well as latest techniques from the frequency domain. A combined univariate and bivariate analysis is conducted on the national as well as supranational (G7- and Euro-Area wide) level. Issues of stability, volatility, and cyclicality are investigated jointly. An extensive analysis of US manufacturing investment series on the fairly disaggregated four-digit level highlights the limits of linear models to capture the sectoral aggregation process. Synchronization is modelled by a mode-locking mechanism of industrial investment cycles induced by informational externalities. The model in its stochastic version is numerically simulated to assess an agreement between model and data. |
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| Item Description: | Electronic resource. |
| Physical Description: | 1 online resource (x, 165 pages 25 illustrations) |
| ISBN: | 9783790827187 (electronic bk.) 3790827185 (electronic bk.) |
| ISSN: | 1431-1933 |