Some Econometric Analysis of Constructed Binary Time Adrian Pagan

Centre for Applied MacroeconomicAnalysis http://cama.anu.edu.au

5.9

6.0

6.1

6.2

6.3

6.4

6.5

1914M12 1915M5 1915M10 1916M3 1916M8

Bull Market of 1914/11-1916/8

LN1 P

12.0

12.1

12.2

12.3

12.4

12.5

12.6

12.7

1970M6 1971M2 1971M10 1972M6 1972M12

Bull Market of 1970/6-1972/12

LN P

-0.002

-0.001

0.000

0.001

0.002

1870M1 1902M1 1934M1 1966M1 1997M12

EDURDEP