Persistence and Seasonality in output and Employment of the Federal Republic of Germany

Juergen Wolters

No 1992043, Discussion Papers (REL - Recherches Economiques de Louvain) from Université catholique de Louvain, Institut de Recherches Economiques et Sociales (IRES)

Abstract: The purpose of this paper is to investigate whether shocks to out- put and employment had permanent or transitory effects during the period from 1961 to 1990 in the Federal Republic of Germany. There are a lot of parametric and non-parametric approaches which can be used for data generating processes which are difference-stationary or trend-stationary. But especially output and employment time series show very strong seasonal movements. Before employing usual persistence measures one has to test for seasonal integration. The application of seasonal adjustment procedures which are typically used in practice lead to different degrees of persistence, so one has to be very careful in interpreting the results.

JEL-codes: C14 C22 E32 (search for similar items in EconPapers)
Pages: 18
Date: 1992-09-01
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Citations: View citations in EconPapers (3)

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