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Common trends and common cycles in Belgian sectoral GDP

Published online by Cambridge University Press:  17 August 2016

Carolina Gervaz
Carolina Gervaz*
Affiliation:
CORE, Université catholique de Louvain
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Summary

The aim of this paper is to examine common trends and common cycles in Belgian sectoral output series. A multivariate technique proposed by Engle and Issler [1995] allows to deal with series which simultaneusly contain common trends and common cycles. An application of their methodology for eigth sectors of the Belgian per capita real GDP is presented in this article: it has been found that four independent common trends and four independent common cycles characterize the variables.

Résumé

Résumé

Le but de cet article est d'examiner les tendences et cycles communs des séries du PIB belge par secteur d'activité. La technique multi-variée proposée par Engle et Issler [1995] permet de travailler avec des séries présentant simultanément des tendences communes et des cycles communs. Une application de cette méthodologie à huit secteurs d'activités belges est présentée dans cet article : on trouve quatre tendences indépendentes communes et quatre cycles indépendents communs qui caractérisent les variables.

Keywords

E32C32E32C32
Type
Research Article
Information
Recherches Économiques de Louvain/ Louvain Economic Review , Volume 63 , Issue 1 , 1997 , pp. 79 - 102
Copyright
Copyright © Université catholique de Louvain, Institut de recherches économiques et sociales 1997 

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Footnotes

(*)

I wish to thank Professor Luc Bauwens and Professor Pierre Malgrange for their extremely helpful comments and suggestions, as well as Jean-Yves Pitarakis, seminar participants at CEPREMAP - ENSAE - MAD - CEME (Paris 1) and the Departement de Sciences Economiques (UCL), and two anonymous referees. Financial support from the FDS (Scientific Development Fund) of UCL and the European Union “Human Capital and Mobility Programme” is gratefully acknowledged. This text presents research results of the Belgian Program on Interuniversity Poles of Attraction initiated by the Belgian State, Prime Minister's Office, Science Policy Programming. All errors are my sole responsibility.

References

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