INTRODUCTION TO "SPECIAL ISSUE ON THE EMPIRICAL ANALYSIS OF BUSINESS CYCLES, FINANCIAL MARKETS, AND INFLATION: ESSAYS IN HONOR OF CHARLES NELSON". (16th December 2013)

• Record Type: Journal Article
• Authors: Kim, Chang-Jin; Morley, James; Piger, Jeremy; Kim, Chang-Jin; Morley, James; Piger, Jeremy
• Is Part Of: Macroeconomic dynamics. Volume 19:Number 4(2015)
• Page Start: 723
• Page End: 727
• Publication Date: 2013-12-16
• Subjects: Macroeconomics -- Periodicals; 339.05
• DOI: 10.1017/S1365100513000643
• Languages: English
• ISSNs: 1365-1005

Abstract

<abstract abstract-type="normal"> <title> <x content-type="archive" xml:space="preserve">Abstract</x> </title> <p>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.</p> </abstract>