Spectral Analysis Of Business Cycles In The Visegrad Group Countries

Abstract

<jats:p>This paper examines the business cycle properties of Visegrad group countries. The main objective is to identify business cycles in these countries and to study the relationships between them. The author applies a modification of the Fourier analysis to estimate cycle amplitudes and frequencies. This allows for a more precise estimation of cycle characteristics than the traditional approach. The cross-spectral analysis of GDP cyclical components for the Czech Republic, Hungary, Poland and Slovakia makes it possible to assess the degree of business cycle synchronization between the countries.</jats:p>

Impact of the Global Financial Crisis on the Business Cycle in the Visegrad Group

“…In fact, only Slovakia and the Czech Republic were fairly correlated. This might be the result of their 75 year economic relations as Czechoslovakia (Kijek, 2017). In general, the average correlation of the V4 member states with V4 average might seem low (corr.…”

“…Their economic cooperation, however, is relatively low. They rather seem to compete with each other as they try to attract foreign capital and increase their export size (Kijek, 2017). After the crisis all correlation coefficients increased (average corr.…”

“…Tvrdon (2011) investigated the impact of the crisis on the labour market and observed an increase in unemployment in the most EU Member States (especially in the group of low-skilled labour force with pre-and primary education). Spectral analysis was conducted by Kijek (2017) who indicated that although the V4 countries may cooperate on the political level, they are rather competitors in the field of economy. Synchronisation investigated by Janus and Beck (2014), as well as Hanus and Vacha (2015) indicated that the Visegrad countries are well-synchronised and their cycles last for 2-4 years.…”

Statistical Methodology for Evaluating Business Cycles with the Conditions of Their Synchronization and Harmonization

“…The abovementioned approach to the systematization of methods for extracting and quantifying cycles in long-term economic dynamics, set forth in papers of Harding and Pagan, is accepted by many scientists, but is not the only one. An example of a somewhat different classification of methods for isolating stable fluctuations reflecting business cycles is presented in the paper of Kijek [20].…”

Comparison of road freight charging in Visegrad Group countries in the context of sustainable regional development

“…This group includes countries such as the Czech Republic, Slovakia, Poland and Hungary. These neighbors in one block have a similar historical and cultural past and economic structure (Kijek, 2017;Palečková, 2017;Lengyel, Kotosz, 2018;Ivanova, Masarova, 2018;Ulbrych, 2018;Uryszek, 2018). The paper is also based on the results and findings obtained from expert studies of charging, fees and costs in road transport (Konecny, Gnap, 2017).…”