This paper compares the performance of a four methods of seasonal adjustment for monthly monetary aggregates. The methods compared are 1. GLAS - the method currently employed by the Bank. 2. STL - a recently developed flexible non-parametric adjustment method. 3. X-11 ARIMA (a slightly modified...

This paper uses a seasonal long-memory model to capture the behaviour of the US Industrial Production Index (IPI) over the period 1919Q1-2022Q4. This series is found to display a large value of the periodogram at the zero, long-run frequency, and to exhibit an order of integration around 1. When...