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Aggregate versus industry-specific sources of economic growth and business cycle fluctuations

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  • Peisa, Paavo

Abstract

This paper evaluates the power of aggregate and sector-specific disturbances ta output growth in the Finnish econc:Jrqy using armual data on the growth of value added in 31 industries over the period 1961-87. The unifonn power distribution assumptions implicit in the standa.J:d randam and fixed effects m:rlels are considered and tested by analyzing the power of disturbances by frequency band.

Suggested Citation

  • Peisa, Paavo, 1989. "Aggregate versus industry-specific sources of economic growth and business cycle fluctuations," Bank of Finland Research Discussion Papers 16/1989, Bank of Finland.
    • Handle: RePEc:zbw:bofrdp:rdp1989_016
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    References listed on IDEAS

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    1. Hausman, Jerry, 2015. "Specification tests in econometrics," Applied Econometrics, Russian Presidential Academy of National Economy and Public Administration (RANEPA), vol. 38(2), pages 112-134.
    2. Olivier J. Blanchard & Mark W. Watson, 1986. "Are Business Cycles All Alike?," NBER Chapters, in: The American Business Cycle: Continuity and Change, pages 123-180, National Bureau of Economic Research, Inc.
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