A typical problem of the seasonal adjustment procedures arises when the series to be adjusted is subject to structural breaks. In fact, using the full span of the series can result in a biased estimation of the ”true” seasonal adjusted series, with unclear evidence showed by the usual...

A typical problem of the seasonal adjustment procedures arises when the observed series is subject to structural breaks. In fact, using the full time interval, the seasonal adjusted series can differ from the "true" seasonal adjusted series, with unclear evidence showed by the usual diagnostic...