Higo, Masahiro; Nakada, Sachiko-Kuroda - In: Monetary and Economic Studies 16 (1998) 2, pp. 61-111
This paper attempts to extract a fundamental trend, which we call a " trend-cycle component," from an economic time-series. The "trend-cycle component" consists of a medium-term business cycle component and a long- term trend component. The objective is to eliminate the short-term irregular and...