The effects of institutional and technological change and business cycle fluctuations on seasonal patterns in quarterly industrial production series
Changes in the seasonal patterns of macroeconomic time series may be due to the effects of business cycle fluctuations or to technological and institutional change or both. We examine the relative importance of these two sources of change in seasonality for quarterly industrial production series of the G7 countries. We find compelling evidence that the effects of gradual institutional and technological change are much more important than the effects attributable to the business cycle.
|Date of creation:||07 Mar 2001|
|Date of revision:||16 May 2002|
|Publication status:||Published in Econometrics Journal, 2003, pages 79-98.|
|Note:||Journal's pdf appears here by permission of the Royal Economic Society. Link to Econometrics Journal website: http://www.res.org.uk/econometrics/econometricshome.asp|
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