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Excerpt from The Sources and Nature of Long-Term Memory in the Business Cycle
A random walk can model time series that look cyclic but non-periodic. The first differences of that series [or in continuous time, the derivative] should then be white noise.
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This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
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Excerpt from The Sources and Nature of Long-Term Memory in the Business Cycle
A random walk can model time series that look cyclic but non-periodic. The first differences of that series [or in continuous time, the derivative] should then be white noise.
About the Publisher
Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com
This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.
"About this title" may belong to another edition of this title.
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The Sources and Nature of Long-Term Memory in the Business Cycle
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Paperback. Condition: New. Print on Demand. This book delves into a long-standing debate in economics: the nature of economic cycles. The author explores the question of whether economic upswings and downturns are best understood as temporary deviations from a long-term trend, or as fundamentally random fluctuations. Drawing inspiration from the work of Wesley Claire Mitchell, the author challenges conventional thinking by exploring a class of models known as ââ Å"fractionally integrated processes.ââ  These models, the author argues, offer a more nuanced understanding of economic cycles, capturing aspects of both trend and randomness, and potentially explaining the persistence of economic shocks over long periods. The book offers a theoretical model that explains how long-term dependence might arise in macroeconomic data through aggregation across industries, suggesting that the complex behavior of a vast economy might be seen as a composite of many simpler individual processes. The author also provides a practical statistical tool for detecting long-term dependence in economic time series, analyzing historical data on real GNP to demonstrate the application of this approach. The book's insights challenge the prevailing dichotomy in economic thought and offer a new framework for understanding the long-term dynamics of the economy. This book is a reproduction of an important historical work, digitally reconstructed using state-of-the-art technology to preserve the original format. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in the book. print-on-demand item. Seller Inventory # 9781332282371_0
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The Sources and Nature of LongTerm Memory in the Business Cycle Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781332282371
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The Sources and Nature of LongTerm Memory in the Business Cycle Classic Reprint
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PAP. Condition: New. New Book. Shipped from UK. Established seller since 2000. Seller Inventory # LW-9781332282371
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The Sources and Nature of Long-Term Memory in the Business Cycle (Classic Reprint)
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Condition: Sehr gut. Zustand: Sehr gut | Sprache: Englisch | Produktart: Bücher | Keine Beschreibung verfügbar. Seller Inventory # 26100025/2
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The Sources and Nature of Long-Term Memory in the Business Cycle (Classic Reprint)
Seller: Buchpark, Trebbin, Germany
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Condition: Hervorragend. Zustand: Hervorragend | Sprache: Englisch | Produktart: Bücher | Keine Beschreibung verfügbar. Seller Inventory # 26100025/1