Sectoral vs. Aggregate Shocks: A Structural Factor Analysis of Industrial Production
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This paper uses factor analytic methods to decompose industrial production (IP) into components arising from aggregate shocks and idiosyncratic sector-specific shocks. An approximate factor model finds that nearly all (90%) of the variability of quarterly growth rates in IP are associated with
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美国国家经济研究局创建时间：
2008-10-01
