Vector Space Modeling for Aggregate and Industry Sectors in Kuwait


Trend growth in total factor productivity (TFP) is unobserved; it evolves continually over time. That assumption is inherent in the use of the Hodrick-Prescott or other bandpass filters to extract trends. Similarly, the Kalman filter/unobserved-components approach assumes that changes in the trend growth rate are normally distributed. In fact, some changes… (More)


Figures and Tables

Sorry, we couldn't extract any figures or tables for this paper.