Further on the Nature of the Australian Business Cycle
Article
Layton, Allan P.. 1994. "Further on the Nature of the Australian Business Cycle
." The Economic Record. 70 (208), pp. 12-18. https://doi.org/10.1111/j.1475-4932.1994.tb01820.x
| Article Title | Further on the Nature of the Australian Business Cycle |
|---|---|
| ERA Journal ID | 18208 |
| Article Category | Article |
| Authors | Layton, Allan P. |
| Journal Title | The Economic Record |
| Journal Citation | 70 (208), pp. 12-18 |
| Number of Pages | 7 |
| Year | 1994 |
| Publisher | John Wiley & Sons |
| Place of Publication | Australia |
| ISSN | 0013-0249 |
| 1475-4932 | |
| Digital Object Identifier (DOI) | https://doi.org/10.1111/j.1475-4932.1994.tb01820.x |
| Web Address (URL) | https://onlinelibrary.wiley.com/doi/10.1111/j.1475-4932.1994.tb01820.x |
| Abstract | Strong and Tan (1991) found Australian output variation was well characterized by a stochastic trend implying output shocks have a permanent effect on the level of activity. The paper finds that in Australia the stochastic trend alternative is statistically dominated when the data are allowed to be characterized by a probabilistic segmented trend specification. This finding implies shocks will only have a permanent effect on output when the series' growth path switches from one growth regime into another as a result of the shock. Copyright © 1994, Wiley Blackwell. All rights reserved |
| Keywords | Australian Business Cycle |
| Public Notes | Files associated with this item cannot be displayed due to copyright restrictions. |
| Byline Affiliations | Queensland University of Technology |
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