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Acta Oeconomica
Authors:
Marinko Skare
,
Beata Gavurova
, and
Andrea Tkacova
( Nilsson – Brunet 2006 ). The disadvantage of the HP filter is the end-point bias that can be solved by predictions, for example, by applying the extrapolation method ( Kranendonk et al. 2004 ), as shown in this study. After removing the trend, the cyclical