A causal investigation of aggregate output fluctuations in India
AbstractThis article is an attempt to understand the causal factors behind fluctuations in aggregate output. We find an absence of bidirectional causality between the gross domestic product residual and the gross domestic capital formation residual as well as between the GDP residual and the residual of the combined expenditures of the central and state governments, while the causality between the balance of trade residual and GDP residual is weakly unidirectional.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 33063.
Date of creation: 23 Sep 2006
Date of revision:
Business Cycles; Hodrick-Prescott filter; Granger Causality;
Find related papers by JEL classification:
- E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles
- B22 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Macroeconomics
- C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models &bull Diffusion Processes
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- Marianne Baxter & Robert G. King, 1999.
"Measuring Business Cycles: Approximate Band-Pass Filters For Economic Time Series,"
The Review of Economics and Statistics,
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- Tom Doan, . "BKFILTER: RATS procedure to implement band pass filter using Baxter-King method," Statistical Software Components RTS00026, Boston College Department of Economics.
- Satyajit Chatterjee, 2000. "From cycles to shocks: progress in business-cycle theory," Business Review, Federal Reserve Bank of Philadelphia, issue Mar, pages 27-37.
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