SYNCHRONIZATION OF BUSINESS CYCLES FOR DISTRICTS WITH NATIONWIDE CYCLES

Abstract

In the article was made an attempt to assess the level of synchronization of business cycles for Polish districts with nationwide business cycles. The measure of economic activity was a monthly registered, from January 1999 to December 2008, index for aggregate sold production, cleared from seasonal and random fluctuations. The analysis of dominant business cycles was made with using spectral analysis. To assess synchronization of cycles were used characteristics of cospectral analysis: coherency rate, amplitude intensification and phase difference. In the summary of the article was made an attempt to build a synthetic indicator, which was a base to ascribe ranks to particular districts, taking into consideration the level of business cycle synchronization.