The Cyclical Component of U. S. Economic Activity

Clicks: 3
ID: 305992
1987
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Abstract
Quarterly data on industrial production and deflated gross national product in the United States from 1947 through 1985 are decomposed into independent nonstationary trend and stationary cycle components using Kalman filtering and smoothing techniques. Estimates of the model parameters imply that at least half of the quarterly innovation in U. S. economic activity can be attributed to a stationary cyclical component that persists over periods of time as long as five years. This finding is inconsistent with the hypothesis that most of the apparent variation in U. S. economic activity can be attributed to a nonstationary trend component.
Reference Key
openalex_W2085591763 Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Peter K. Clark
Journal the quarterly journal of economics
Year 1987
DOI
10.2307/1884282
URL
https://doi.org/10.2307/1884282
Keywords Keywords not found

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