Introduction to Special Issue on the Empirical Analysis of Business Cycles, Financial Markets, and Inflation: Essays in Honor of Charles Nelson

Chang Jin Kim, James Morley, Jeremy Piger

Research output: Contribution to journalReview article

Abstract

Time series analysis of macroeconomic and financial variables requires a deep understanding of many econometric pitfalls if an empirical researcher hopes to avoid making spurious inferences. This understanding is the hallmark of Charles Nelson's research over four decades and it develops out of a healthy skepticism about conventional wisdom, yet a pragmatic belief that, despite the econometric hurdles, it is possible to learn from data. The papers in this special issue build on Charles Nelson's research legacy to address many important empirical questions related to business cycles, financial markets, and inflation, always with respect for the data, but wary of spurious inferences.

Original languageEnglish
Pages (from-to)723-727
Number of pages5
JournalMacroeconomic Dynamics
Volume19
Issue number4
DOIs
Publication statusPublished - 2015 Jun

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Keywords

  • Applied Time Series Analysis
  • Business Cycles
  • Financial Markets
  • Inflation

ASJC Scopus subject areas

  • Economics and Econometrics

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