A dynamic factor model of the coincident indicators for the US transportation sector

Kajal Lahiri and Vincent Yao

MPRA Paper from University Library of Munich, Germany

Abstract: This paper studies the business cycle features of the transportation sector using dynamic factor models. The transportation reference cycles peak ahead of the economic cycles, but lag by a few months at troughs. The asymmetric relationship between these two suggests the usefulness of transportation in monitoring business cycles.

Keywords: dynamic factor model; coincident indicator; transportation sector (search for similar items in EconPapers)
JEL-codes: E00 (search for similar items in EconPapers)
Date: 2004-08
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Citations: View citations in EconPapers (5)

Published in Applied Economics Letters 10.11(2004): pp. 595-600

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Journal Article: A dynamic factor model of the coincident indicators for the US transportation sector (2004)
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:22360

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