Post-War U.S. Business Cycles: An Empirical Investigation
Posted: 4 May 2000
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 co-movements of the cyclical components of a variety of macroeconomic time series. We find that these co-movements are very different than the corresponding co-movements of the slowly varying trend components.
JEL Classification: N22
Suggested Citation: Suggested Citation