ʌ
Autocorrelation of β11
Displacement
Figure 8
Autocorrelations and Residual Autocorrelations of Level, Slope and Curvature Factors
Autocorrelation of ^11
Displacement
Autocorrelation of β21
Displacement
Autocorrelation of ^21
Displacement
ʌ
Autocorrelation of β31
Autocorrelation of ^31
Displacement
Displacement
Notes to Figure 8: We plot the sample autocorrelations of the three estimated factors, β1t, β2t, andβ31, as
well as the sample autocorrelations of AR(1) models fit to the three estimated factors, along with Barlett’s
approximate 95% confidence bands.
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