Series: IMF Working Papers
Author(s): S. Boragan Aruoba , Marco Terrones , Ayhan Kose , and Francis Diebold
Publisher: INTERNATIONAL MONETARY FUND
Publication Date: 01 February 2011
Keywords: Expansion, Contraction, Recession, Turning Point, Dynamic factor model, Nowcasting, Real-time analysis, business cycle, business cycles, correlations
We propose and implement a framework for characterizing and monitoring the global business cycle. Our framework utilizes high-frequency data, allows us to account for a potentially large amount of missing observati...