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The importance of inventory investment in the business cycle is well known. Its role in the seasonal cycle is less well … known. We examine the variation of inventory investment and its comovement with output over the seasonal and business cycles … investment and output exhibit high correlation, with similar magnitudes, at seasonal and business cycle frequencies. These …
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Although the in uence of exceptional weather on individual behaviour has already been acknowledged in finance, psychology, and marketing, the literature examining weather effects at more aggregate level is still limited. Further, there is a lot of anecdotal evidence that weather anomalies affect...
Persistent link: https://www.econbiz.de/10011944153
Seasonality in macroeconomic time series can obscure movements of other components in a series that are operationally more important for economic and econometric analyses. Indeed, in practice one often prefers to work with seasonally adjusted data to assess the current state of the economy and...
Persistent link: https://www.econbiz.de/10013018840
We propose a set of new quantitative measures to characterise more fully the features of economic recoveries. We apply these measures to post-war US expansions and use cluster analysis to determine that there are two different types of recoveries in recent US economic history, with most...
Persistent link: https://www.econbiz.de/10012961427
The number and the distribution of non-working days during the year has recently entered the policy debate related to the slow pace of the European economy.The fact that the number of non-working days can affect the quarter to quarter performance of GDP is well known and hardly disputable. It...
Persistent link: https://www.econbiz.de/10014056696
There is now a great deal of empirical evidence that business cycle fluctuations contain asymmetries. The asymmetries found in post-war U.S. data are inconsistent with the behavior of the U.S. economy in the Great Depression. In a model where business cycle asymmetries are produced by rational...
Persistent link: https://www.econbiz.de/10012735735
The aim of this paper is to make a comparison between survey and time series-based estimates of capacity utilization … for the Italian manufacturing sector. The comparison is focused on the actual economic crisis. Two kinds of empirical …
Persistent link: https://www.econbiz.de/10013136751