Zegar cyklu koniunkturalnego państw UE i USA w latach 1995-2013 w świetle badań synchronizacji
Business cycle clock for the EU and the USA in 1995-2013 in the light of synchronization research

Summary/Abstract: The paper presents the usefulness of business cycle clock for the evaluation of business cycle synchronization. For the quarterly data in 1995-2013 for the EU countries and the USA business cycles in duration of 6, 8 and 10 years were filtered using Hodrick- -Prescott filter and Butterworth filter. Business cycle clock was calculated for filtered processes. The aim of the research was to answer the question in which business cycle phases the synchronization of phases is the highest and which groups of countries it concerned. The paper also presents the conformity assessment of results with cross-spectral analysis.

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