Czech Business Cycle Stylized Facts
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| Year of publication | 2006 |
| MU Faculty or unit | |
| Citation | |
| Description | This paper deals with identification of stylized facts of Czech business cycle. Empirical time series are decomposed into trend and cyclical component using bandpass filter. Cross-correlations between cyclical component of GDP and various time series are computed. The cyclical behaviour of the series is determined, leading and lagging indicators are identified. Finally, the Granger causality between GDP and other aggregate variables is tested. All these characteristics are presented in charts and commented. Several main conclusions about behaviour of variables over the cycle are summarized, which helps to judge implications of alternative economic theories. Distinctions between stylized facts in the Czech Republic and other developed countries are also discussed. |
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