Journal ArticleDOI
Dissecting the cycle: a methodological investigation
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In this paper, the authors define the cycle as a pattern in the level of aggregate economic activity and develop an algorithm to locate turning points, as well as a new measure of procyclicality.About:
This article is published in Journal of Monetary Economics.The article was published on 2002-03-01. It has received 1432 citations till now.read more
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The global impact of the great depression
Thilo Albers,Martin Uebele +1 more
TL;DR: This article provided monthly economic activity indicators for 30 countries on six continents for the period 1925-36 based on more than 1200 historical time series and found that the global recovery after 1931 was slower than much-cited contemporary evidence suggests.
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Disentangling economic recessions and depressions
TL;DR: This paper proposed a nonparametric test that distinguishes "depressions" and "booms" from ordinary recessions and expansions, and found that stock returns, output growth, and inflation exhibit predictive power for depressions.
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Los efectos del precio del suelo sobre el precio de la vivienda para Colombia
TL;DR: In this paper, the authors analyzed the recent behavior of prices of housing in Colombia and sought to shed light on whether there is a misalignment of prices against the fundamentals that determine them.
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Bailing Out the People? When Private Debt Becomes Public
TL;DR: The authors show that excess private debt systematically turns into higher public debt, regardless of whether the credit boom resulted in a crisis or a more orderly deleveraging process, and suggest that markets and policymakers should move away from looking at private and sovereign debt in silos and pay closer attention to the total stock of debt in the economy, as the line between the two tends to become blurry.
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Journal ArticleDOI
A New Approach to the Economic Analysis of Nonstationary Time Series and the Business Cycle.
TL;DR: In this article, the parameters of an autoregression are viewed as the outcome of a discrete-state Markov process, and an algorithm for drawing such probabilistic inference in the form of a nonlinear iterative filter is presented.
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Measuring Business Cycles.
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Frontiers of business cycle research
TL;DR: In this paper, recursive methods for computing Equilibria of business cycle models are described. But they are not suitable for non-Walrasian economic models with imperfectly competitive product markets.
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Detrending and business cycle facts
Fabio Canova,Fabio Canova +1 more
TL;DR: This paper examined the business cycle properties of a small set of real US macroeconomic time series using a variety of detrending methods and found that both quantitatively and qualitatively "stylized facts" of US business cycles vary widely across detrended methods and that alternative detending filters extract different types of information from the data.