© 1997

Business Cycles

An International Comparison of Stylized Facts in a Historical Perspective


Part of the Contributions to Economics book series (CE)

Table of contents

  1. Front Matter
    Pages i-x
  2. Introduction

    1. Ulrich Woitek
      Pages 1-6
  3. The Methodology

    1. Front Matter
      Pages 7-7
    2. Ulrich Woitek
      Pages 59-76
  4. Empirical Results

    1. Front Matter
      Pages 77-77
    2. Ulrich Woitek
      Pages 129-131
  5. Back Matter
    Pages 133-209

About this book


Subject is the description of unvariate and multivariate business cycle stylized facts. A spectral analysis method (Maximum Entropy spectral estimation) novel in the analysis of economic time series is described and utilized. The method turns out to be superior to widely used time domain methods and the "classical" spectral estimate, the periodogram. The results for eleven OECD countries confirm and extend the basic set of stylized facts of traditional business cycle theory. The changing characteristics of the business cycle are analyzed by comparing the cyclical structure for the postwar and the prewar period. The results show that business cycle is mainly due to investment fluctuations.


Germany Konjunkturzyklen Wirtschaftsgeschichte Zeitreihenanalyse business business cycle economic history entropy investment rating science and technology time series time series analysis value-at-risk

Authors and affiliations

  1. 1.Seminar für Wirtschaftsgeschichte, SEMECONUniversität MünchenMünchenGermany

Bibliographic information

  • Book Title Business Cycles
  • Book Subtitle An International Comparison of Stylized Facts in a Historical Perspective
  • Authors Ulrich Woitek
  • Series Title Contributions to Economics
  • DOI
  • Copyright Information Physica-Verlag Heidelberg 1997
  • Publisher Name Physica-Verlag HD
  • eBook Packages Springer Book Archive
  • Softcover ISBN 978-3-7908-0997-8
  • eBook ISBN 978-3-642-48856-6
  • Series ISSN 1431-1933
  • Edition Number 1
  • Number of Pages X, 209
  • Number of Illustrations 0 b/w illustrations, 0 illustrations in colour
  • Topics Economic Theory/Quantitative Economics/Mathematical Methods
  • Buy this book on publisher's site
Industry Sectors
Finance, Business & Banking