A dynamic factor model of the coincident indicators for the US transportation sector
This paper studies the business cycle features of the transportation sector using dynamic factor models. The transportation reference cycles peak ahead of the economic cycles, but lag by a few months at troughs. The asymmetric relationship between these two suggests the usefulness of transportation in monitoring business cycles.
|Date of creation:||Aug 2004|
|Date of revision:|
|Publication status:||Published in Applied Economics Letters 10.11(2004): pp. 595-600|
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