The Effects of Institutional and Technological Change and Business Cycle Fluctuations on Seasonal Patterns in Quarterly Industrial Production Series∗
نویسندگان
چکیده
Changes in the seasonal patterns of macroeconomic time series may be due to the effects of business cycle fluctuations or to technological and institutional change or both. We examine the relative importance of these two sources of change in seasonality for industrial production series of the G7 countries. We find compelling evidence that the effects of gradual institutional and technological change are much more important than the effects attributable to the business cycle.
منابع مشابه
The Effect of Monetary Policy on Business Cycles in Iran Economy
Nowadays one of the most important issues in our economy, both from economic and political view is the link between monetary policy and business cycle fluctuations. Amongst the shocks related to the supply side, the shock of oil price is the important factor that has affected the world economy since the 1970s. This paper examines the effects of monetary policy and oil price shocks on the busine...
متن کاملThe Forecasting Performance of Various Models for Seasonality and Nonlinearity for Quarterly Industrial Production∗
Seasonality often accounts for the major part of quarterly or monthly movements in detrended macro-economic time series. In addition, business cycle nonlinearity is a prominent feature of many such series too. A forecaster can nowadays consider a wide variety of time series models which describe seasonal variation and regime-switching behaviour. In this paper we examine the forecasting performa...
متن کاملTrend analysis and detection of precipitation fluctuations in arid and semi-arid regions
The most important impacts of climate change relate to temperature and precipitation. Precipitation is particularly important, because changes in precipitation patterns may lead to floods or droughts in different areas. Also, precipitation is a major factor in agriculture and in recent years interest has increased in learning about precipitation variability for periods of months to annual and s...
متن کاملEffects of Business Cycles on Bilateral Trade Flows in Eurozone Countries
In economic theory, various determinants are considered to explore their effects on trade patterns. Accordingly, business cycles indicate turbulences in economic activities. Business cycles and their fluctuations cause a change in demand for goods and services from the other country then it can affect trade flows. In this study, by using a gravity model, we study the effects of business cycles ...
متن کاملThe Role of International Financial Integration in Production and Inflation Fluctuations in Iran: Using a Dynamic Stochastic General Equilibrium Model
The effects of International financial integration on the fluctuations of variables in response to shocks are a matter of heavily concentrated literature of the business cycle in recent years. In this paper, a New Keynesian DSGE model is developed in which there is a channel for capital account changes through the foreign deposit's inflow and outflow. Then the effects of financial integration a...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2001