eu/), Economagic (www.economagic.com), and E-signal and analyzed using statistical methods such as a 30-months moving average, a de-trend and the covariance in a variety of indexes summarized in Table 1.
Thus, Figure 1 plots the DAX with a 30-months moving average that when it crosses the DAX a change in tendency flows that is reflected in the "de-trend."
All variables are in real terms, and we de-trend
the variables with a quadratic trend after taking a logarithm of all variables except NX.
They also include dummy variables for the year of each survey so as to de-trend
the data and isolate (as best as possible) the effects of education from other exogenous factors not included in the model.
Phase Average, Hodrick-Prescott and Linear trends, these do not reflect the range of methods used in practice by macroeconomists to de-trend
(2003) we de-trend
the data and apply the test to de-trended
GMSL time series (after removing the trend) is shown in Figure 3 with blue solid line, which is then processed with traditional and SSAW and finally the trend is added back to the reconstructed signal.
All the data are standardized and seasonally adjusted and de-trended
by means of the HP filter ([lambda] = 100,000).
The NLADF test can be conducted for a data generating process with different deterministic terms including the demeaned data ([NLADF.sub.DM], [NLADF.sub.DT] and [NLADF.sub.RAw DATA]), de-trended
data, and the raw data.
They find that potential output is smooth, which results in an output gap that closely resembles traditional measures of de-trended
To determine whether the CBA is inflation targeting or exchange rate targeting we estimate the reaction function without the exchange rate and then with three alternative measures: the nominal exchange rate, the real exchange rate and the de-trended
real exchange rate.
The difference between the observed inventory level and the corresponding desired normal level is the so-called relative inventory level or the deseasonalized and de-trended
inventory level, reading from the right vertical axis in the figure.