Christopher Prescott, Arja Karivieri, Peter Campbell, Kristian Göransson & Sebastiano Tusa (ed.). 2021. Trinacria: ‘an island outside time’. International archaeology in Sicily. Oxford: Oxbow; 978-1-78925-591-1 hardback £55. - Volume 95 Issue 383

The Hodrick-Prescott filter represents one of the most popular method for trendcycle extraction in macroeconomic time series. In this paper we provide a multivariate generalization of the Hodrick-Prescott filter, based on the seemingly unrelated time series approach. We first derive closed-form expressions linking the signal-noise matrix ratio to the parameters of the VARMA representation of th...

As part of the new macroeconomic modelling project at the Reserve Bank of New Zealand, considerable effort has been directed towards constructing an historical estimate of the productive capacity of the New Zealand economy. The technique documented in this paper augments the stochastic-trend estimation approach of the Hodrick-Prescott (1997) filter with information from broad macroeconomic rela...

One of the more important questions in the area of quantitative economic policy concerns the suitability of optimal control theory for economic stabilization problems. Despite extensive theoretical and applied research in this area, the question of the appropriateness of control theory has still not been completely resolved. The papers by Kalchbrenner and Tinsley and by Prescott are, therefore,...

This paper aims to analyze the effectiveness of detrending policies in Turkey using Hodrick- Prescott (HP) filter, country’s Gross Domestic Product (GDP), and selected indicators from 2010 2021. The HP filter is a commonly used statistical tool for time series data by separating trend component cyclical series. discussion section shows observable physical impact overlooking components over comp...

Considering the problem of extracting a trend from a time series, we propose a novel approach based on empirical mode decomposition (EMD), called EMD trend filtering. The rationale is that EMD is a completely data-driven technique, which offers the possibility of estimating a trend of arbitrary shape as a sum of low-frequency intrinsic mode functions produced by the EMD. Based on an empirical a...

In this novel paper Michael Parkin puts forth a new real business cycle model, proposes a new method to test the model, and carries out the: proposed method using U.S. annual data from 1954 through 1986. The model differs in several ways from the well-known Kydland-Prescott type real business cycle model. The testing method also differs from well-known methods used to test real business cycle m...

Maravall and del Río (2001), analized the time aggregation properties of the Hodrick-Prescott (HP) filter, which decomposes a time series into trend and cycle, for the case of annual, quarterly, and monthly data, and showed that aggregation of the disaggregate component cannot be obtained as the exact result from direct application of an HP filter to the aggregate series. The present paper show...

In this article, the second in our series from RCVS, Linda Prescott-Clements explains how Veterinary Graduate Development Programme (VetGDP) will offer new vets support of VetGDP advisers. Also, on page 340, established graduate mentor Charlotte Moody gives her perspective importance adviser's role