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Unemployment And Business Cycles In Central And Eastern European Countries

Author

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  • CIPRIAN CHIRILĂ
  • VIORICA CHIRILĂ

    (ALEXANDRU IOAN CUZA UNIVERSITY)

Abstract

The economies of the capitalist countries are continuously facing fluctuations known as business cycles. The estimation of global business cycles as well as of business cycles of different macroeconomic variables expressing the state of the economy are of utter importance for the decision making process having as a final goal the reduction of recession periods. The unemployment rate is known as a lagging indicator for the business cycles and it can offer important information regarding the business cycles forecasting. Therefore, the purpose of this study is to analyze in a comparative manner the general business cycles and the business cycles of unemployment rate in the CEE countries. The results confirm the persistence of the business cycles under analysis and the existence of great differences by countries of the reaction of unemployment business cycles to general business cycles.

Suggested Citation

  • Ciprian Chirilă & Viorica Chirilă, 2012. "Unemployment And Business Cycles In Central And Eastern European Countries," Anale. Seria Stiinte Economice. Timisoara, Faculty of Economics, Tibiscus University in Timisoara, vol. 0, pages 486-493, November.
    • Handle: RePEc:tdt:annals:v:xviii/supplement:y:2012:p:486-493
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    File URL: http://fse.tibiscus.ro/anale/Lucrari2012_2/AnaleFSE_2012_2_080.pdf
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    References listed on IDEAS

    as
    1. Peter Benczur & Attila Ratfai, 2010. "Economic fluctuations in Central and Eastern Europe: the facts," Applied Economics, Taylor & Francis Journals, vol. 42(25), pages 3279-3292.
    2. Rachel Male, 2010. "Developing Country Business Cycles: Revisiting the Stylised Facts," Working Papers 664, Queen Mary University of London, School of Economics and Finance.
    3. Agenor, Pierre-Richard & McDermott, C John & Prasad, Eswar S, 2000. "Macroeconomic Fluctuations in Developing Countries: Some Stylized Facts," The World Bank Economic Review, World Bank, vol. 14(2), pages 251-285, May.
    4. Rachel Male, 2010. "Developing Country Business Cycles: Revisiting the Stylised Facts," Working Papers 664, Queen Mary University of London, School of Economics and Finance.
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    More about this item

    Keywords

    Hodrick-Prescott filter; unemployment; lagging indicators;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
    • C18 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - Methodolical Issues: General
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes

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