"Postwar U.S. Business Cycles: An Empirical Investigation"
Journal of Money, Credit, and Banking,
Volume: 29 | Issue: 1 | Pages: 1-16
Publication type: Journal article
Research Archive Topic: Business Economics and Public Policy
We propose a procedure for representing a time series as the sum of a smoothly varying trend component and a cyclical component. We document the nature of the comovements of the cyclical components of a variety of macroeconomic time series. We find that these comovements are very different than the corresponding comovements of the slowly varying trend components.
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