Operational Time and Seasonality in Distributed Lag Estimation / Peter K. Clark.

By:

Clark, Peter K

Contributor(s):

National Bureau of Economic Research

Material type: Text

TextSeries: Working Paper Series (National Bureau of Economic Research) ; no. w0032.Publication details: Cambridge, Mass. National Bureau of Economic Research 1974.Description: 1 online resource: illustrations (black and white)Online resources:

Available additional physical forms:

Hardcopy version available to institutional subscribers

Abstract: The following paper discusses the analysis of some types of economic time series using an altered time scale, or operational time. It is argued that for some series, observations that are ordinarily thought of as equidistant in time are actually irregularly spaced in a more natural time scale. Section A discusses point or impulse sampling of related series and the estimation of distributed lag relationships between them. Section B discusses time-aggregated sampling. In Section C, operational-time methods are used to calculate the distributed lag relationship between starts and completions for single-family dwellings in the United States. The results are statistically compared with those of ordinary distributed lag methods.

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February 1974.

The following paper discusses the analysis of some types of economic time series using an altered time scale, or operational time. It is argued that for some series, observations that are ordinarily thought of as equidistant in time are actually irregularly spaced in a more natural time scale. Section A discusses point or impulse sampling of related series and the estimation of distributed lag relationships between them. Section B discusses time-aggregated sampling. In Section C, operational-time methods are used to calculate the distributed lag relationship between starts and completions for single-family dwellings in the United States. The results are statistically compared with those of ordinary distributed lag methods.