Zastosowanie filtrów do analizy cykli koniunkturalnych i synchronizacji cyklu koniunkturalnego Polski z krajami europejskimi
Application of filters to analysis of business cycles and business cycle synchronization of Poland with European countries

Summary/Abstract: The aim of this paper is to present the importance of business cycle synchronization between Poland and other European countries. The Hodrick-Prescott and Christiano-Fitzgerald filters were used in the research. They were applied to extract cyclical components from quarterly time series of real GDP of 33 European countries basing on the Eurostat’s quarterly data on nominal GDP and price level in the years 2002—2016. The application of filters proved that, in case of some countries (e.g. Greece), the economic crisis led not only to a drop of GDP but also to a break in the trend. Moreover, the results indicate that most European countries overcame the crisis at the end of 2015. The business cycle synchronization of Poland with euro area countries is slowly increasing.

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