Shiller's justification is that he's smoothing out temporary booms and busts in earnings during wars and economic downturns.
Long run time trends mean that any association between the variables using untransformed data will tend to be dominated by the trend itself rather than explaining the effect of deviations from the trend produced by recession or temporary booms.
That in turn has created a temporary solar boom as firms race to connect to the grid in the coming days.
The town had temporary economic booms with the discoveries of natural gas in 1881 and oil fields in 1903.
He said while the deficit was not "out of control", it was a problem that needed fixing amid a "temporary [economic] boom, permanent promises" scenario that spawned major spending commitments like Gonski education reforms and the National Disability Insurance Scheme.
In the second half – staged within the trackside enclosure that is York Theatre Royal's temporary second home – boom turns to bust as piles of worthless shares literally go up in smoke.
The expansion of the EU by 10 countries will have a temporary effect (immigration boom, fading out, followed by return).
