Dueker, Michael J.; Fischer, Andreas M. - Federal Reserve Bank of St. Louis - 2003
over the business cycle. On one hand, improvements may
increase the productivity of a machine and help expand production … 1960s
because of expensive freeway and tunnel projects.
Next, to examine business cycle movements in real Swiss GDP and … improvements are too large to
be ignored in business cycle analysis.
8
References
Andrist, F., Anderson, R.G., Williams, M …