The Propagation of Industrial Business Cycles

@inproceedings{Camacho2017ThePO,
  title={The Propagation of Industrial Business Cycles},
  author={M{\'a}ximo Camacho and Danilo Leiva-Leon},
  year={2017}
}
This paper examines the evolution of the distribution of industry-specifi c business cycle linkages, which are modelled through a multivariate Markov-switching model and estimated by Gibbs sampling. Using non parametric density estimation approaches, we fi nd that the number and location of modes in the distribution of industrial dissimilarities change over the business cycle. There is a relatively stable trimodal pattern during expansionary and recessionary phases characterized by highly… CONTINUE READING

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