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Author
Date
2011-07Type
- Working Paper
ETH Bibliography
yes
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Abstract
In this study we suggest a chronology of the classical business cycle in Switzerland. To this end we use two approaches: the approach of Artis et al. (2004) and an approach based on Markov-switching models (Hamilton, 1989). Our results show that similar conclusions can be reached by applying the two methodologies. Another result is that the chronology obtained displays high concordance with the chronology derived for the Euro Area by the CEPR Business Cycle Dating Committee. A further contribution of our study is that we determine the sensitivity of the chronology obtained with respect to a particular GDP vintage used. For this purpose we employ the real-time database that contains 53 vintages of GDP data starting from 1997Q4 until 2010Q4. The main result of this robustness exercise is that the chronology obtained is stable across different vintages, although some minor differences across vintages can be detected. Show more
Permanent link
https://doi.org/10.3929/ethz-a-006537563Publication status
publishedJournal / series
KOF Working PapersVolume
Publisher
KOF Swiss Economic Institute, ETH ZurichSubject
ECONOMETRICS AND ECONOMETRIC MODELS (OPERATIONS RESEARCH); SCHWEIZ (MITTELEUROPA). SCHWEIZERISCHE EIDGENOSSENSCHAFT; SWITZERLAND (CENTRAL EUROPE). SWISS CONFEDERATION; ÖKONOMETRIE UND ÖKONOMETRISCHE MODELLE (OPERATIONS RESEARCH); Classical business cycle; GDP revisions; BUSINESS CYCLE; Switzerland; Turning points; KONJUNKTURZYKLUSOrganisational unit
02525 - KOF Konjunkturforschungsstelle / KOF Swiss Economic Institute
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ETH Bibliography
yes
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