Postwar US business cycles: An empirical investigation

被引:3119
作者
Hodrick, RJ
Prescott, EC
机构
[1] FED RESERVE BANK MINNEAPOLIS,MINNEAPOLIS,MN
[2] UNIV MINNESOTA,MINNEAPOLIS,MN 55455
[3] NATL BUR ECON RES,CAMBRIDGE,MA 02138
关键词
D O I
10.2307/2953682
中图分类号
F8 [财政、金融];
学科分类号
0202 ;
摘要
We propose a procedure for representing a time series as the sum of a smoothly varying trend component and a cyclical component. We document the nature of the comovements of the cyclical components of a variety of macroeconomic time series. We find that these comovements are very different than the corresponding comovements of the slowly varying trend components.
引用
收藏
页码:1 / 16
页数:16
相关论文
共 18 条
[1]  
[Anonymous], 1977, NEW METHODS BUS CYCL
[2]  
Denison E., 1974, ACCOUNTING US GROWTH
[3]  
KEYNES JM, 1936, GENERAL THEORY EMPLO
[4]  
LITTERMAN RB, 1979, DETECTING NEUTRAL PR
[5]  
Lucas R.E., 1981, STUDIES BUSINESS CYC
[6]   METHODS AND PROBLEMS IN BUSINESS-CYCLE THEORY [J].
LUCAS, RE .
JOURNAL OF MONEY CREDIT AND BANKING, 1980, 12 (04) :696-715
[7]  
LUCAS RE, 1981, J MONEY CREDIT BANKI
[8]  
MCCARTHY MD, 1978, J FINANC, V33, P977
[9]  
Miller M. D., 1946, ELEMENTS GRADUATION
[10]  
Mitchell W.C., 1913, BUSINESS CYCLES