Showing 1 - 10 of 61,628
Empirical tests of the production-smoothing hypothesis have yielded mixed results. In this paper, Donald Allen looks for, and finds evidence of, seasonal production smoothing in 15 out of 25 manufacturing series and 8 out of 10 retail series, using detrended seasonally unadjusted data. The...
Persistent link: https://www.econbiz.de/10005352964
Separating cyclical movement from trend growth at seasonal and business cycle frequencies is important to macroeconomic research. At business cycle frequencies, time trends, first differences and the more recent Hodrick-Prescott (HP) filter are used to separate trends from cycles. At seasonal...
Persistent link: https://www.econbiz.de/10005352879
We consider a dynamic, stochastic equilibrium business cycle model which is augmented to reflect seasonal shifts in preferences, technology, and government purchases. Our estimated parameterization implies implausibly large seasonal variation in the state of technology: rising at an annual rate...
Persistent link: https://www.econbiz.de/10005712384
Persistent link: https://www.econbiz.de/10005717325
This paper shows that in several U.S. manufacturing industries, the seasonal variability of production and inventories varies with the state of the business cycle. We present a simple model which implies that if firms reduce the seasonal variability of their production as the economy...
Persistent link: https://www.econbiz.de/10005410914
Persistent link: https://www.econbiz.de/10005410917
Persistent link: https://www.econbiz.de/10005414959
Persistent link: https://www.econbiz.de/10010528326
This paper examines the effects of expansionary technology shocks (shocks that increase labor productivity and factor … inputs) as opposed to contractionary technology shocks (shocks that increase labor productivity, but decrease factor inputs … productivity and production inputs. In addition, these shocks trigger different reactions of certain variables, which can help …
Persistent link: https://www.econbiz.de/10010336790
and data series show that the major drop in output was due to productivity. In addition, the timing of the banking reforms …
Persistent link: https://www.econbiz.de/10011487452