Authors: Röhl, Michael C.
Theis, Winfried
Weihs, Claus
Title: Multivariate Classification of Business Phases
Language (ISO): en
Abstract: We propose multivariate classification as a statistical tool to describe business cycles. These cycles are often analyzed as a univariate phenomenon in terms of GNP or industrial net production ignoring additional information in other economic variables. Multivariate classification overcomes these limitations by reducing dimension in a way suitable for human perception. Based on a four phase scheme (upswing, upper turning point, downswing, lower turning point) we demonstrate the potential of classification methods by determining the important economic variables (stylized facts) for the German business cycle.
Subject Headings: business cycle
classification
dimension reduction
simulated annealing
transition structure
URI: http://hdl.handle.net/2003/4961
http://dx.doi.org/10.17877/DE290R-15093
Issue Date: 1999
Publisher: Universitätsbibliothek Dortmund
Appears in Collections:Sonderforschungsbereich (SFB) 475

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