Engle, R. F.; Issler, João Victor - FGV/EPGE Escola Brasileira de Economia e Finanças, … - 1994
This paper investigates the degree of short run and long run co-movement in U.S. sectoral output data by estimating sectoraI trends and cycles. A theoretical model based on Long and Plosser (1983) is used to derive a reduced form for sectoral output from first principles. Cointegration and...