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- W2012178972 abstract "The phenomenon, that economic growth does not occur smoothly, but tends to proceed in wavelike movements, has long fascinated economists and numerical analysts. The economic growth follows certain patterns which are referred to as business cycles to reflect the considerable regularity both in size and period. Although much has been accomplished, many problems remain unsolved. In order to obtain accurate results, for example, multiple business cycles should be dealt with simultaneously. A new method is developed by the authors to investigate the existence of business cycles in economic growth. It deals with all individual cycles together. The method combines the spectral method with regression analysis. A trigonometric model is used and its model parameters representing business cycles are estimated in two steps. First, parametric spectral estimation is enmployed to detect the frequencies of business cycles represented by the sine terms in the model. This yields highly accurate and robust identification. Then, the remaining model parameters are determined by regression analysis. To demonstrate the effectiveness of the method, historical data for the American economy is analyzed, where the growth rate of gross national product (GNP) is used as the indicator of aggregate production and five business cycles are identified. A short report of this work is presented here. Wang and Sun (1994) provide more details." @default.
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- W2012178972 date "1996-04-01" @default.
- W2012178972 modified "2023-10-18" @default.
- W2012178972 title "Empirical Analysis of Business Cycles in Aggregate Production" @default.
- W2012178972 doi "https://doi.org/10.2307/135988" @default.
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