Stochastic trends, deterministic trends,
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Stephen Gordon
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Article
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1997
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John Wiley and Sons
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English
โ 247 KB
This study examines the relationship between speciยฎcations for long-run output patterns and speciยฎcations for business cycle dynamics. In an application to US GDP, it is found that inferences about the nature of the trend in output are not robust to changes in the speciยฎcation for short-run ยฏuctuati