Business Cycle in the Czech Republic -- The Battle of Theories
| Authors | |
|---|---|
| Year of publication | 2006 |
| Type | Article in Proceedings |
| Conference | Česká ekonomika v procesu globalizace |
| MU Faculty or unit | |
| Citation | |
| Field | Economy |
| Keywords | stylized facts - bandpass filter - cross-correlation - theory of business cycle |
| Description | The article identifies some stylized facts about Czech business cycle for the purpose of evaluation of alternative theories. The data series are filtered using bandpass filter and cross-correlations between cyclical component of selected variables and cyclical component of real GDP are computed. Behavior of the variables over the cycle is confronted with implications of three competing theories. The real business cycle theory comes out as the best theory explaining business cycle in the Czech Republic. |
| Related projects: |