Estimating Trading-Day Variation in Monthly Economic Time Series
Estimating Trading-Day Variation in Monthly Economic Time Series
Introduction
An important source of the month-to-month variation in many monthly economic time series is trading-day variation. In activities such as production, sales, and shipments in domestic and foreign trade, the monthly rate of activity is related to the number of working or trading days in the month. A familiar example is retail sales, where more sales are made on Fridays and Saturdays than on other days and higher sales are made in months containing five Fridays and/or Saturdays than those with four.
Others in Series
Working Paper
Time Series Seasonal Adjustment Using Regularized SVD
We propose a new seasonal adjustment method based on the Regularized Singular Value Decomposition of the matrix obtained by reshaping seasonal time series data.
Working Paper
Computation of the Autocovariances for Time Series
Gegenbauer processes allow for flexible and convenient modeling of time series data with multiple spectral peaks.
Working Paper
Seasonal Analysis of Economic Time Series
Given a basic stochastic seasonal time series model, developed by Box and Jenkins, the corresponding model for temporal aggregates is derived.
Related Information
Page Last Revised - February 11, 2025