@ARTICLE{Kľúčik_Miroslav_Slowdown_2010,
 author={Kľúčik, Miroslav and Juriová, Jana},
 number={No 1},
 journal={Central European Journal of Economic Modelling and Econometrics},
 pages={17-36},
 howpublished={online},
 year={2010},
 publisher={Oddział PAN w Łodzi},
 abstract={The economy of Slovakia experienced a turning point in the 1st half of 2008 and entered a phase of decline. The negative impacts of the global economic crisis became evident in the 2nd half of 2008 and led into a recession in the 1st quarter of 2009. The composite leading indicator was originally intended for forecasting of business cycle turning points between the decline and growth phases. The aim of this paper is to transform the qualitative information from composite leading indicator into quantitative forecast and verify whether the beginning of recession in Slovakia could have been identied in advance. The ARIMAX and error correction models are used for the composite reference series and GDP forecasts respectively. The nal result shows that the composite leading indicator is useful not only for identifying turning points, but also for the prediction of recession phase.},
 type={Artykuły / Articles},
 title={Slowdown or Recession? Forecasts Based on Composite Leading Indicator},
 URL={http://journals.pan.pl/Content/103802/PDF/mainFile.pdf},
 doi={10.24425/cejeme.2010.119318},
 keywords={Global economic crisis, recession, composite leading indicator, ARIMAX model, error correction model},
}