Sector-Level Disaggregate Stochastic Trends in Mexicos Real Output
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| Formato: | Artículo científico |
| Lenguaje: | en |
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Centro de Investigación y Docencia Económicas, A.C.
2004
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| _version_ | 1876476187756199936 |
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| author | Antonio E. Noriega |
| author_facet | Antonio E. Noriega |
| contents | Sector-Level Disaggregate Stochastic Trends in Mexicos Real Output Antonio E. Noriega Economía y Finanzas Cointegration Common Trends Sectorial Production Sequential Unit Root Testing Our aim is to examine whether sectorial production shocks havepredominated in Mexicos long annual real output, and whether shocksfrom different sectors are correlated. We study the long-run movementand comovements of 6 production sectors, using long, low frequency datafor the Mexican economy from 1921 to 1993 and Johansens (1991, 1995)method to test for cointegration, that is, the possibility of commonstochastic shocks driving growth among sectors. Under cointegration, theidiosyncratic sectorial shocks cancel out and vanish, giving rise to a(possibly multiple) stochastic growth component common to all (some)sectors. We show that the sources of permanent innovations in Mexicosreal output are more likely to come from sector-group-specific sourcesrather than from either independent sector-specific technological shocks,or common aggregate permanent innovations. 2004 artículo científico 1665-2045 https://www.redalyc.org/articulo.oa?id=32313102 en http://www.redalyc.org/revista.oa?id=323 Economía Mexicana. Nueva Época application/pdf Centro de Investigación y Docencia Económicas, A.C. Economía Mexicana. Nueva Época (México) Num.1 Vol.XIII |
| format | Artículo científico |
| id | redalyc_32313102 |
| institution | Redalyc |
| language | en |
| publishDate | 2004 |
| publisher | Centro de Investigación y Docencia Económicas, A.C. |
| spellingShingle | Sector-Level Disaggregate Stochastic Trends in Mexicos Real Output Antonio E. Noriega Economía y Finanzas Cointegration Common Trends Sectorial Production Sequential Unit Root Testing Sector-Level Disaggregate Stochastic Trends in Mexicos Real Output Antonio E. Noriega Economía y Finanzas Cointegration Common Trends Sectorial Production Sequential Unit Root Testing Our aim is to examine whether sectorial production shocks havepredominated in Mexicos long annual real output, and whether shocksfrom different sectors are correlated. We study the long-run movementand comovements of 6 production sectors, using long, low frequency datafor the Mexican economy from 1921 to 1993 and Johansens (1991, 1995)method to test for cointegration, that is, the possibility of commonstochastic shocks driving growth among sectors. Under cointegration, theidiosyncratic sectorial shocks cancel out and vanish, giving rise to a(possibly multiple) stochastic growth component common to all (some)sectors. We show that the sources of permanent innovations in Mexicosreal output are more likely to come from sector-group-specific sourcesrather than from either independent sector-specific technological shocks,or common aggregate permanent innovations. 2004 artículo científico 1665-2045 https://www.redalyc.org/articulo.oa?id=32313102 en http://www.redalyc.org/revista.oa?id=323 Economía Mexicana. Nueva Época application/pdf Centro de Investigación y Docencia Económicas, A.C. Economía Mexicana. Nueva Época (México) Num.1 Vol.XIII |
| title | Sector-Level Disaggregate Stochastic Trends in Mexicos Real Output |
| topic | Economía y Finanzas Cointegration Common Trends Sectorial Production Sequential Unit Root Testing |
| url | https://www.redalyc.org/articulo.oa?id=32313102 |