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How can it be an outlier if it is an integral part of the business cycle? Does the very term cycle not imply that it is not an outlier but part of the expected variation?

Index of Frank's Diaries
by Frank Schnittger (mail Frankschnittger at hot dotty communists) on Fri Jul 13th, 2012 at 07:04:09 AM EST
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Yes. It's a quip about how lazy econometrics can give misleading results.

- Jake

If you only spend 20 minutes of the rest of your life on economics, go spend them here.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Fri Jul 13th, 2012 at 07:16:15 AM EST
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