E - Macroeconomics and Monetary Economics
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Do Mechanical Filters Provide a Good Approximation of Business Cycles?
In this paper, the authors examine how well the Hodrick-Prescott filter (HP) and the band-pass filter recently proposed by Baxter and King (BK) extract the business-cycle component of macroeconomic time series. -
A Modified P*-Model of Inflation Based on M1
This paper examines the performance of M1 in an indicator-model of inflation over time horizons as long as 16 quarters into the future.