Maximo Camacho


The Propagation of Industrial Business Cycles

Staff Working Paper 2014-48 Maximo Camacho, Danilo Leiva-Leon
This paper examines the business cycle linkages that propagate industry-specific business cycle shocks throughout the economy in a way that (sometimes) generates aggregated cycles. The transmission of sectoral business cycles is modelled through a multivariate Markov-switching model, which is estimated by Gibbs sampling.

See More


Follow the Bank