Latin American Economic Review

Table 1 Estimates parameters of UC-CN model

From: Trend-cycle decomposition for Peruvian GDP: application of an alternative method

	UC-CN 1		UC-CN 2		UC-CN 3
	Coefficient	t statistic	Coefficient	t statistic	Coefficient	t statistic
\(\sigma _{\eta _{1}}^{2}\)	0.008	0.124
\(\sigma _{\eta _{2}}^{2}\)	6.112	1.281	6.111	1.044	6.115	1.395
\(\sigma _{\epsilon _{1}}^{2}\)	1.072	6.801	1.072	6.649	1.072	6.933
\(\sigma _{\epsilon _{2}}^{2}\)	3.795	3.730	3.795	3.295	3.795	3.793
σ _υ	0.109	1.385	0.109	1.457	0.109	1.521
σ _ω	0.010	0.165	0.010	0.085
ϕ ₁	1.416	11.703	1.416	9.287	1.416	12.377
ϕ ₂	−0.519	−4.698	−0.519	−3.648	−0.519	−4.816
α ₁	0.798	5.426	0.798	4.212	0.798	5.614
α ₂	0.903	6.935	0.903	5.422	0.903	7.473
ln(L)	−291.662		−291.662		−291.662

ln(L) is the log of the maximum likelihood value

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