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https://doi.org/10.1017/S1365100516001140
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Título: | The propagation of industrial business cycles |
Fecha de publicación: | 21-sep-2017 |
Editorial: | Cambridge University Press |
Cita bibliográfica: | Macroeconomic Dynamics , Volume 23 , Issue 1 , January 2019 , pp. 144 - 177 |
ISSN: | 1469-8056 |
Materias relacionadas: | CDU::3 - Ciencias sociales |
Palabras clave: | Business cycles Output Growth Time Series |
Resumen: | This paper examines the business cycle linkages that propagate industry-specific business cycle shocks throughout the economy in a way that (sometimes) generate aggregated cycles. The transmission of sectorial business cycles is modelled through a multivariate Markov-switching model, which is estimated by Gibbs sampling. Based on nonparametric density estimation approaches, we find that the number and location of modes in the distribution of industrial dissimilarities change over the business cycle. There is a relatively stable trimodal pattern during expansionary and recessionary phases characterized by highly, moderately and lowly synchronized industries. However, during phase changes, the density mass spreads out from the central part to the higher end of lowly synchronized industries. |
Autor/es principal/es: | Camacho, Maximo Leiva-Leon, Danilo |
Facultad/Departamentos/Servicios: | Facultades, Departamentos, Servicios y Escuelas::Departamentos de la UMU::Facultades, Departamentos, Servicios y Escuelas::Departamentos de la UMU Métodos Cuantitativos para la Economía y la Empresa |
Versión del editor: | https://www.cambridge.org/core/journals/macroeconomic-dynamics/article/abs/propagation-of-industrial-business-cycles/78003F67B563DA898D5A5037A07F682B |
URI: | http://hdl.handle.net/10201/137186 |
DOI: | https://doi.org/10.1017/S1365100516001140 |
Tipo de documento: | info:eu-repo/semantics/article |
Número páginas / Extensión: | 38 |
Derechos: | info:eu-repo/semantics/openAccess Atribución 4.0 Internacional |
Descripción: | © 2017. This document is made available under the CC-BY 4.0 license http://creativecommons.org/licenses/by /4.0/ This document is the submitted version of a published work that appeared in final form in Macroeconomic Dynamics. |
Aparece en las colecciones: | Artículos: Métodos Cuantitativos para la Economía y la Empresa |
Ficheros en este ítem:
Fichero | Descripción | Tamaño | Formato | |
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industries.pdf | 883,48 kB | Adobe PDF | Visualizar/Abrir |
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