This article identifies cycles of Gabon GDP,
those of its main components (consumption, investment, government spending, exports
and imports), and their characteristics (duration, severity and depth), using a
band-pass filter and according to the algorithm of Bry and Boschan. Synchronization
and the concordance of the cycles of GDP and those of its components are highlighted.
Similarly, the contributions of cycles of variables that make up the GDP to the
cycles of this greatness are studied according to Stock and Watson’s way (1998).
Cite this paper
J. Ekomie, "Business Cycle: The Case of Gabon," Modern Economy, Vol. 4 No. 4, 2013, pp. 320-328. doi: 10.4236/me.2013.44035.
 A. F. Burns and W. C. Mitchell, “Measuring Business Cycles,” National Bureau of Economic Research, Cambridge, 1946.
 S. Claessens, A. Kose and E. Terrones, “How Do Business and Financial Cycles Interact?” Research Department International Monetary, Washington DC, 2000.
 W. Hoffmaister, E. Roldos and P. Wickham, “Macroeconomic Fluctuations in Sub-Saharan Africa,” IMF Working Paper, 1997.
 P. Agenor, C. Mc Dermott and E. Prasad, “Macroeconomic Fluctuations in Developing Countries: Some Stylized Facts,” World Bank Economic Review, Vol. 14, No. 2, 2000, pp. 251-285. doi:10.1093/wber/14.2.251
 D. Corbae and S. Ouliaris, “Extracting Cycles from Nonstationary Data,” In: D. Corbae, S. Durlauf and B. Hansen, Eds., Econometric Theory and Practice: Frontiers of Analysis and Applied Research, Cambridge University Press, New York, 2006.
 J. Christiano and J. Fitzgerald, “The Band Pass Filter,” International Economic Review, Vol. 44, No. 2, 2003, pp. 435-465. doi:10.1111/1468-2354.t01-1-00076
 M. Baxter and R. King, “Measuring Business Cycles: Approximate Band-Pass Filters for Economic Time Series,” University of Virginia, Charlottesville, 1988.
 G. Bry and C. Boshan, “Cyclical Analysis of Time Series: Selected Procedures and Computer Programs,” UMI, Cambridge, 1971.
 D. Harding and A. Pagan, “Synchronization of Cycles,” Melbourne University, Parkville, 2000.
 R. Pagan, “Lecture 2: Measuring the Cycle,” IMF Lecture, New York, 2004.
 A. Haug and G. Dewald, “Longer-Term Effects of Monetary Growth on Real and Nominal Variables,” European Central Bank Working Paper, No. 382, 2004.
 W. K. Newey and K. West, “Automatic Lag Selection in Covariance Matrix Estimators,” Review of Economic Studies, Vol. 61, No. 4, 1994, pp. 631-653.
 J. P. Allergret and A. Zantman. “Disentangling Business Cycles and Macroeconomic Policy in Mercusor: A VAR and Unobserved Components Model Approaches,” Observatoire Francais de Conjoncture Economique.
 J. Stock and M. Watson, “Business Cycle Fluctuations in US Macroeconomic Time Series,” NBER Working Paper, 1998.
 J. Valle e Azevedo, “A Multivariate Band—Pass Filter for Economic Time Series,” Journal of the Royal Statistical Society Series C, Vol. 60, No. 1, 2011, pp. 1-301.