Gopalan, Sasidaran (2006): A causal investigation of aggregate output fluctuations in India. Published in: Economic and Political Weekly , Vol. 41 (38, (23. September 2006): pp. 4081-4085.
Download (55kB) | Preview
This article is an attempt to understand the causal factors behind fluctuations in aggregate output. We find an absence of bidirectional causality between the gross domestic product residual and the gross domestic capital formation residual as well as between the GDP residual and the residual of the combined expenditures of the central and state governments, while the causality between the balance of trade residual and GDP residual is weakly unidirectional.
|Item Type:||MPRA Paper|
|Original Title:||A causal investigation of aggregate output fluctuations in India|
|Keywords:||Business Cycles; Hodrick-Prescott filter; Granger Causality;|
|Subjects:||E - Macroeconomics and Monetary Economics > E3 - Prices, Business Fluctuations, and Cycles > E32 - Business Fluctuations; Cycles
B - History of Economic Thought, Methodology, and Heterodox Approaches > B2 - History of Economic Thought since 1925 > B22 - Macroeconomics
C - Mathematical and Quantitative Methods > C2 - Single Equation Models; Single Variables > C22 - Time-Series Models; Dynamic Quantile Regressions; Dynamic Treatment Effect Models
|Depositing User:||Sasidaran Gopalan|
|Date Deposited:||30. Aug 2011 15:25|
|Last Modified:||12. Feb 2013 14:29|
Baxter, M and R King (1995): ‘Measuring Business Cycles: Approximate Band-Pass Filters for Economic Time Series’, Working Paper No 5022, National Bureau of Economic Research.
Burns, A F and W C Mitchell (1946) ‘Measuring Business Cycles’, National Bureau of Economic Research, New York.
Chandra, R (2002): ‘Export Growth and Economic Growth: An Investigation of Causality in India’, The Indian Economic Journal, 49 (3), pp 64-72.
Chatterjee, S (2000): ‘From Cycles to Shocks: Progress in Business Cycle Theory’, Business Review, Federal Reserve Bank of Philadelphia.
Granger, C W J (1969): ‘Investigating Causal Relationships by Econometric Models and Cross-Spectral Methods’, Econometrica, Vol 37, No 3, pp 424-38.
Gujarati, N D (1995): ‘Basic Econometrics’, Third Edition, Tata McGraw Hill publishers.
Hodrick, R and E Prescott (1997): ‘Postwar US Business Cycles: An Empirical Investigation’, Journal of Money, Credit and Banking, 29 (1), pp 1-16.
Lucas, R (1977): ‘Understanding Business Cycles’, presented at the Carnegie-Rochester Conference Series on Public Policy.
Mankiw, G (1989), ‘Real Business Cycles: A New Keynesian Perspective’, Journal of Economic Perspectives 3, summer, pp 79-90.
Prescott, E (1986): ‘Theory Ahead of Business- Cycle Measurement’, Federal Reserve Bank of Minneapolis Quarterly Review, fall, pp 9-22.
Romar, D (2001): ‘Advanced Macroeconomics’, Second Edition, McGraw Hill publishers.
Snowdon, B and H Vane (1997): ‘A Macroeconomics Reader’, Routledge publishers, London.