FURTHER ON THE NATURE OF THE AUSTRALIAN BUSINESS-CYCLE

被引：7

作者：

LAYTON, AP

机构：

[1] School of Economics and Public Policy, Queensland University of Technology, Brisbane, Gardens Point

来源：

ECONOMIC RECORD | 1994年 / 70卷 / 208期

关键词：

D O I：

10.1111/j.1475-4932.1994.tb01820.x

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

Strong and Tan (1991) found Australian output variation was well characterized by a stochastic trend implying output shocks have a permanent effect on the level of activity. The paper find that in Australia the stochastic trend alternative is statistically dominated when the data are allowed to be characterized by a probabilistic segmented trend specification. This finding implies shocks will only have a permanent effect on output when the series' growth path switches from one growth regime into another as a result of the shock.

引用

页码：12 / 18

页数：7

共 16 条

[1]

Burns A, 1946, NBER STUDIES BUSINES, V2

[2] ARE OUTPUT FLUCTUATIONS TRANSITORY [J].