@article{Bhoury:293246,
      recid = {293246},
      author = {Bhoury, Mehdi and Slim Mouha, Mohamed},
      title = {Characteristics of Tunisian business cycle and  international synchronisation},
      publisher = {The Graduate Institute of International and Development  Studies},
      address = {Geneva. 2015},
      number = {BOOK},
      series = {Graduate Institute of International and Development  Studies Working Paper ; no. 16/2015},
      pages = {18 p. + 5 p. d'Appendix},
      year = {2015},
      abstract = {In this paper, we have applied spectral and cross spectral  analysis techniques as an alternative approach to  characterize the Tunisian business cycle and measure the  degree of its international synchronization. As a  robustness check, we have applied these techniques to the  industrial production (overall and manufacturing IPI) as  well as two synthetic indexes: a dynamic factor and a  diffusion index. We found the presence of two types of  cycles: a minor cycle of 12.5 quarters (3.1 years) detected  in Tunisia and in all its European trade partners and a  major cycle of 33.3 quarters (8.3 years) observed in the  majority of the cycles studied. The cross–spectral analysis  provides a strong evidence of synchronization of the  Business cycle in Tunisia and its European partners,  particularly at high frequencies. The volatility of the  Tunisian business cycle is generally lower than that of the  European cycle. It is even lower for longer cycles. The  transmission of cyclical shocks from the Euro Area to  Tunisia is instantaneous for short cycles. The delays are  much longer for the major cycles. They can reach 5 to 6  quarters.},
      url = {http://repository.graduateinstitute.ch/record/293246},
      doi = {https://doi.org/10.71609/iheid-1cek-a195},
}