Economics uses theory, data, and laboratory and field experiments to understand decision making, how our varied decisions interact and depend on one another, and how policy can help people make better decisions.
small and noisy; whereas a univariate unobserved-components (UC) decomposition, introduced by Harvey (1985) and Clark (1987), implies a smooth trend and a cycle that is large in amplitude and highly ... Cycle’. Journal of Monetary Economics 7, pp.