Guillén, Ángel; Rodríguez, Gabriel - In: Latin American Economic Review 23 (2014) 1, pp. 1-44
decomposition of the GDP in its trend and cycle components, which overcomes the identification problems of models of unobserved … this analysis, we choose the UC-CN model, which presents a mixture of normals in the disturbances of the trend and cycle … component of output. The obtained trend clearly reflects the structural change undergone in the early 1990s. After a steep …