Los ciclos económicos internacionales: Antecedentes y revisión de la literatura

The study of business cycles has been of great interest since its formal analysis in the early twentieth century; however there has been no consensus among experts about its definition and techniques for estimating them. Therefore, in this paper we present a review of the definition of business cycles and of their characteristics and approaches. On the other hand, we review the references on the techniques used to extract business cycles, especially focusing on the estimation of international business cycles employing multivariate techniques which have opened a research line with a growing interest.