This paper investigates the differences between directly and indirectly seasonally adjusted aggregates. This difference is derived analytically for linear seasonal adjustment methods. GDP data for five European countries and three classes of seasonal adjustment methods are used to show...

After the collapse in early transition years, saving rates in Eastern European EU-accession countries have recovered strongly. Is private saving in these countries now driven by the same forces as in the EU? A GMM estimator is applied to analyze the determinants of private saving in both country...