Cyclical components in economic time series are analysed in a Bayesian framework, thereby allowing prior notions about periodicity to be used. The method is based on a general class of unobserved component models that allow relatively smooth cycles to be extracted. Posterior densities of...

This paper analyzes the consequences of introducing stochastic technological progress and stochastic labor input into a Solow-Swan exogenous growth model and an 'AK' endogenous growth model with general savings and production functions.