`holiday` – Holiday / event dummy variables.#

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Operational op under axis op, sub-layer L3_A_step_op, layer l3. Standalone callable: mf.functions.holiday_transform.

Function signature#

mf.functions.holiday_transform(
    panel: pd.DataFrame,
) -> pd.DataFrame

Parameters#

name	type	default	constraint	description
`panel`	`pd.DataFrame`	—	—	Input panel. Each column is a variable; rows are time periods. Series is promoted to a single-column DataFrame internally.

Returns#

pd.DataFrame — scalar result.

Behavior#

0/1 indicators for calendar holidays (US federal by default; params.country selects locale via the holidays package). For business / financial macro series.

When to use

Daily / weekly business-cycle series where holidays create discrete level shifts.

When NOT to use

Pure macro series at monthly+ frequency where holidays are absorbed by season_dummy.

In recipe context#

Set params.op = "holiday" in the relevant layer to activate this op within a recipe:

# Layer L3 recipe fragment
params:
  op: holiday

References#

macroforecast design Part 2, L3: ‘feature engineering is a DAG of typed transforms; cascade-depth bounds the longest chain at cascade_max_depth.’

holiday – Holiday / event dummy variables.#