Table 9 displays the results from estimating the interval regression with only contemporaneous business cycle indicators
. We find that as state revenues expand by 1%, parent and state aid increases by $48.89 and $181.14, respectively.
Statistical indicators of cyclical revivals, Business Cycle Indicators
In a first step, we test whether the negative and significant contemporaneous sample correlations between margins and a business cycle indicator
are robust to the inclusion of controls related to monetary policy, default risk and banking regulation.
On the other hand, after Canova (1998) argued that the business cycle properties depend on the detrending filter, different filters are commonly applied to obtain alternative business cycle indicators
to check the robustness of the results: if they are qualitatively similar, it is said that those results are robust to the filter.
For the initial growth rate estimates, the revisions evidence over the past 15 years, the correlations with other business cycle indicators
, and the recent behavior of the estimates around cyclical turning points all point to this conclusion.
None of the European business cycle indicators
affect the intensity of trading activities.
This suggests strongly that any one rule alone is not sufficient to interpret the data, and a careful analysis of all the business cycle indicators
within the context of the domestic and global economic environment is required.
This article constructs an international business cycle indicator
using a broad production measure of the G7 countries and the Organisation for Economic Co-operation and Development (OECD) member countries.
According to business cycle indicators
published by the Conference Board, the economy has grown recently, is growing now, and is expected to continue growing in the near future.
(1961), Business Cycle Indicators
, National Bureau of Economic Research
. Business Cycle Indicators
, Volumes I and II: Contributions to the Analysis of Current Business Conditions.
Time series plots would have helped the reader obtain a sense of the relationship of the alternative series to one another and to business cycle indicators
. But the authors restrain even this impulse.