Morley, James; Panovska, Irina B.; Sinclair, Tara M. - School of Economics, UNSW Business School - 2014
In the aftermath of the global financial crisis, competing measures of the trend in macroeconomic variables such as US real GDP have featured prominently in policy debates. A key question is whether the large shocks to macroeconomic variables will have permanent effects—i.e., in econometric...