“…Attempts to identify the persistence generation mechanisms suggest that substantial inertia is present in the adjustment process (see e.g. Andersen and Hylleberg (2000)). Both nominal and real sources of inertia are found to be important, but the former seems to be quantitatively most important.…”
Section: Business Cycle Vs Structural Componentsmentioning
“…Attempts to identify the persistence generation mechanisms suggest that substantial inertia is present in the adjustment process (see e.g. Andersen and Hylleberg (2000)). Both nominal and real sources of inertia are found to be important, but the former seems to be quantitatively most important.…”
Section: Business Cycle Vs Structural Componentsmentioning
“…Thus, following Andersen and Hylleberg (2000), we first solve model ( 2 series also shows little evidence of inertia in the short-run part of the model. )…”
Section: Employment Adjustment At Manufacturing Industry Levelmentioning
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