Detrending and business cycle facts: A comment

dc.contributor.author

Burnside, C

dc.date.accessioned

2010-03-09T15:36:38Z

dc.date.issued

1998-05-20

dc.description.abstract

There is nothing misleading in the fact that different filtering techniques lead to different facts about macroeconomic time series. The fact that economists use a large number of filters to extract the 'cyclical' and 'trend' components of time series simply means that these concepts do not have unique meaning among them. Alternative filters provide different windows through which economists can examine their models and data. It is an open question as to whether some of these windows are more or less interesting to look through. The fact that some economists restrict themselves to a small set of filters is an issue to the extent that they thereby induce a lack of power. Here, I argue that a commonly used method of testing business cycle models induces no such lack of power.

dc.format.mimetype

application/pdf

dc.identifier.issn

0304-3932

dc.identifier.uri

https://hdl.handle.net/10161/1979

dc.language.iso

en_US

dc.publisher

Elsevier BV

dc.relation.ispartof

Journal of Monetary Economics

dc.title

Detrending and business cycle facts: A comment

dc.type

Journal article

pubs.begin-page

513

pubs.end-page

532

pubs.issue

3

pubs.organisational-group

Duke

pubs.organisational-group

Economics

pubs.organisational-group

Trinity College of Arts & Sciences

pubs.publication-status

Published

pubs.volume

41

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