In this paper, the sub-cycles in two economic activity measures are analyzed by using periodogram analyses. Our results from Turkish data suggest that industrial production and capacity utilization rate consist of various cycles including seasonal cycles. These series also have common cycles which correspond about four and seven years. Last, industrial production has also additional cycles compare to capacity utilization ratio cycle.
Keywords: Business Cycle, Spectral Analysis, Periodogram
JEL Classifications:C22, C32, E32.
DOI #: 10.33818/ier.440103
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1Yılmaz Akdi, Prof., Department of Statistics Faculty of Science, Ankara University, Ankara, Turkey, 06100, (e-mail: yilmaz.akdi@ankara.edu.tr), Phone: ++ 90 312 212 6720/1254.
2Serdar Varlik, Assoc. Prof., Department of Economics, Hitit University, Corum, Turkey, 19040, (e-mail: varlikserdar@gmail.com), Phone: ++ 90 364 225 7700/1435, Fax: ++90 364 225 7711.
3Hakan Berument, Prof., Department of Economics, Bilkent University, Ankara, Turkey, 06800, (e-mail: berument@bilkent.edu.tr), Phone: ++ 90 312 290 2342, Fax: ++90 312 266 5140.