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SPECIAL ISSUE PAPER
EMD-Based Study of the Volatility Mechanism in Economic Growth
1
School of Economics and Statistics, Guangzhou University, Guangzhou, CHINA
2
Guangzhou International Institute of Finance and Guangzhou University, CHINA
Online publication date: 2017-11-24
Publication date: 2017-11-24
EURASIA J. Math., Sci Tech. Ed 2017;13(12):8121-8130
KEYWORDS
TOPICS
ABSTRACT
In this paper, Empirical Mode Decomposition (EMD) is used for decomposing the quarterly data of year-on-year GDP growth rate from 2000 to 2016. Four intrinsic modes of different frequency scales and inclusive of economic growth volatility are obtained, together with one smooth residual term. Based on the validity information of the decomposed waveforms, the statistical method and the economic significance information are identified for exploring the inherent law of economic growth, before concluding that the economic growth volatility mechanism is comprised of the short-, medium- and long-term influential factors and a relatively stable basic element. Empirical analysis has found that the impacts of long-term volatility factors are dominant and tend to be determined by the business cycle.
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| eISSN: | 1305-8223 |
| ISSN: | 1305-8215 |
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