of detrending methods. It is shown: (i) that both quantitatively and qualitatively `stylized facts' of US business cycles … vary widely across detrending methods; (ii) that alternative detrending filters extract different types of information from …

In a market with short term agents and heterogeneous information, when liquidity trading displays persistence, prices … expectations inasset pricing. We show that with persistence HFT can enhance informational efficiency and liquidity -- though …

are changes in the volatility of both variables and in the persistence of inflation. Technology shocks explain changes in … output volatility, while a combination of technology, demand and monetary shocks explain variations in the persistence and …

persistence. This view is questioned in the paper using German data on unemployment. A new class of time-series models, the …

rates display a high degree of serial correlation, or `persistence'; (2) the average rate of unemployment has been higher in … also generates other empirically testable hypotheses, concerning cyclical variations in unemployment persistence, the … influence of firing costs and the `discouraged worker' effect on unemployment persistence, and the effect of barriers to the …