IDEAS home Printed from https://ideas.repec.org/a/spr/empeco/v26y2001i2p325-341.html
   My bibliography  Save this article

The treatment of seasonality in error correction models as unobserved component: a case study for an Austrian consumption function

Author

Listed:
  • Michael Wüger

    () (Österreichisches Institut für Wirtschaftsforschung, Postfach 91, A-1103 WIEN, Austria)

  • Gerhard Thury

    () (Österreichisches Institut für Wirtschaftsforschung, Postfach 91, A-1103 WIEN, Austria)

Abstract

This paper deals with an alternative approach to treating seasonality in error correction models for consumption with a parsimonious parameterization as proposed by Harvey and Scott. We introduce an unobserved seasonal component into an error correction model for Austrian consumer expenditures on nondurables and services and compare the results with different approaches. The use of stochastic seasonal results in a definite improvement of the estimated model.

Suggested Citation

  • Michael Wüger & Gerhard Thury, 2001. "The treatment of seasonality in error correction models as unobserved component: a case study for an Austrian consumption function," Empirical Economics, Springer, vol. 26(2), pages 325-341.
  • Handle: RePEc:spr:empeco:v:26:y:2001:i:2:p:325-341
    Note: received: October 1997/Final version received: May 2000
    as

    Download full text from publisher

    File URL: http://link.springer.de/link/service/journals/00181/papers/1026002/10260325.pdf
    Download Restriction: Access to the full text of the articles in this series is restricted

    As the access to this document is restricted, you may want to search for a different version of it.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Kurt Kratena & Ina Meyer & Michael Wüger, 2009. "Economic, Technological and Socio-demographic Factors Impacting on Energy Demand," WIFO Monatsberichte (monthly reports), WIFO, vol. 82(7), pages 525-538, July.
    2. Thomas URL & Josef BAUMGARTNER & Helmut HOFER & Serguei KANIOVSKI & Andreas U. SCHUH, "undated". "A Long-run Macroeconomic Model of the Austrian Economy (A-LMM)," EcoMod2004 330600143, EcoMod.
    3. Michael Wüger, 2005. "Consumer Demand Continues to be Muted – Christmas Sales Expected to Grow," WIFO Monatsberichte (monthly reports), WIFO, vol. 78(12), pages 821-833, December.
    4. Michael Wüger, 2002. "Modest Increase of Consumption. Hope for Christmas Sales," WIFO Monatsberichte (monthly reports), WIFO, vol. 75(12), pages 751-762, December.
    5. Jikun Huang & Jun Zhang & Scott Rozelle, 2013. "The Political Economy of Food Pricing Policy in China," Working Papers id:5317, eSocialSciences.
    6. Kurt Kratena & Ina Meyer & Michael Wüger, 2009. "Economic, Technological and Socio-demographic Factors of Energy Demand," WIFO Working Papers 339, WIFO.

    More about this item

    Keywords

    ECM; Unobserved Components; Seasonality; Consumption;

    JEL classification:

    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables
    • C22 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models; Diffusion Processes
    • D12 - Microeconomics - - Household Behavior - - - Consumer Economics: Empirical Analysis
    • C51 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Construction and Estimation
    • C52 - Mathematical and Quantitative Methods - - Econometric Modeling - - - Model Evaluation, Validation, and Selection
    • E2 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:empeco:v:26:y:2001:i:2:p:325-341. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Sonal Shukla) or (Rebekah McClure). General contact details of provider: http://www.springer.com .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.