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An examination of business cycle features in UK sectoral output
[Zeitschriftenartikel]
Abstract This paper examines business cycle features of UK GDP sectors with regard to trends, cycles and growth. The empirical study adopts the Kalman filter to decompose these GDP sectors into trend and cycle components. The general model of this study encompasses a number of alternative specifications abou... mehr
This paper examines business cycle features of UK GDP sectors with regard to trends, cycles and growth. The empirical study adopts the Kalman filter to decompose these GDP sectors into trend and cycle components. The general model of this study encompasses a number of alternative specifications about trend growth, therefore accommodating diverse views on growth. There is reasonable support in the results for a mean-reverting stochastic growth model for the UK economy. The characteristics in trends and cycles of UK GDP sectors are discussed, focusing on their similarities and differences around business cycles.... weniger
Thesaurusschlagwörter
Großbritannien; Trend; Wirtschaftsentwicklung; Bruttoinlandsprodukt; Wirtschaftswachstum; Konjunkturzyklus
Klassifikation
Wirtschaftsstatistik, Ökonometrie, Wirtschaftsinformatik
Volkswirtschaftslehre
Freie Schlagwörter
business cycles; cycle; growth; mean-reverting; decomposition; Kalman filter
Sprache Dokument
Englisch
Publikationsjahr
2009
Seitenangabe
S. 3241-3252
Zeitschriftentitel
Applied Economics, 42 (2009) 25
DOI
https://doi.org/10.1080/00036840802599818
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)