RT Journal Article
SR Electronic
A1 Poměnková, Jitka
T1 Turning points identification of growth business cycle in the Czech republic - an alternative approach
JF Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis
YR 2014
VO 57
IS 3
SP 123
OP 132
DO 10.11118/actaun200957030123
UL https://acta.mendelu.cz/artkey/acu-200903-0013.php
AB The purpose of the paper is to identify GDP growth cycle of the Czech Republic by means of turning points identification using alternative statistical method - non-parametric kernel estimate. Special type of estimate, convolution Gasser-Müller one, is used. An advantage of this approach is possibility to estimate derivations of unknown function, which is suitable especially in the case of turning points searching.For identification of growth business cycle type results of nonparametric estimate of regression function is used. Obtained residuals, growth component, are considered as growth cycle type and are analogically identified. On the basis of nonparametric estimates of growth component derivations (1<sup>st</sup> and 2<sup>nd</sup>) turning points (trough and peak) are identified. At the end, comparison of nonparametric statistical approach with economic turning points identification approach, Canova type, is done.