Publisher
Springer International Publishing
Reference9 articles.
1. D. Dickey and W. Fuller, “Distribution of the Estimators for Autoregressive Time Series with a Unit Root,” Journal of the American Statistical Association, 1979, 74: 427–431 and D. Dickey and W. Fuller “Likelihood Ratio Tests for Autoregressive Time Series with a Unit Root,” Econometrica 1981, 49: 1057–1072. When dealing with macro level data, such as profits, removing trend is essential to effective decision making. The level of profits, as in output and employment, rises over time so to analyze movements, the data must be detrended.
2. John Steel Gordon, The Business of America: Tales from the Marketplace, Walker Books, New York, 2002. A review of enterprise and the pursuit of profit that leads to economic growth and employment.
3. C.W. Granger and P. Newbold “Spurious Regressions in Econometrics,” Journal of Econometrics, 1974, 73:111–120. This article emphasizes the importance of testing for causality as often simple correlations/regressions run between variables offers no real explanatory power.
4. Hodrick, Robert and Prescott, Edward C., “Postwar U.S. Business Cycles: An Empirical Investigation,” Journal of Money, Credit, and Banking, 1997, 29 (1): 1–16. Separating trend from cycle in any time series is an important component of analysis.
5. N. Gregory Mankiw, Macroeconomics, Ninth Edition, Worth Publishers, Chapter 9, 13, 14. Economic activity is a dynamic process and the interaction between profits and real final sales is important to understanding cycles.
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