DiCecio, Riccardo - Federal Reserve Bank of St. Louis - 2005
Reserve Bank of St. Louis,
P.O. Box 442, St. Louis, MO 63166-0442, USA
August 14, 2008
Abstract
A de�ning feature of business ….
Variable (x) x= ~y x;~y
Consumption 0:53 0:70
Hours (consumption sector) 0:74 0:85
Investment 3:69 0:92
Hours (investment … inputs
The series were logged and detrended using an HP1600 �lter. x= ~y is the std.
dev. of variable x relative to output …