publication . Preprint . 2003

Modeling lunar calendar effects in taiwan

Jin-Lung Lin; Tian- Syh Liu;
Open Access
  • Published: 12 Jun 2003
The three most important Chinese holidays, Chinese New Year, the Dragon- boat Festival, and Mid-Autumn Holiday have dates determined by a lunar calendar and move between two solar months. Consumption, production, and other economic behavior in countries with large Chinese population including Taiwan are strongly affected by these holidays. For example, production accelerates before lunar new year, almost completely stops during the holidays and gradually rises to an average level after the holidays. This moving holiday often creates difficulty for empirical modeling using monthly data and this paper employs an approach that uses regressors for each holiday to di...
free text keywords: lunar new year, moving holiday, seasonal adjustment, X12-ARIMA, jel:L11, jel:C81, jel:F49, jel:R38
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