Asymmetric persistence in GDP? A deeper look at depth
Article Abstract:
Asymptotic results of the Beaudry and Koop's model on US GDP and their possible applications on other G-7 countries are discussed. Analytical and simulation estimation of BK's GDP asymmetric persistence test are likewise presented. A Monte-Carlo analysis is extensibly used for a more realistic data-generating processes for GDP. Results reveal no common pattern of asymmetric persistence of G-7 countries, hence demonstrating a restricted BK model.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1997
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Asymmetric business cycles: theory and time-series evidence
Article Abstract:
An alternative model for examining aggregate economic fluctuations that is based on intertemporal increasing returns is presented. The model characterizes output dynamics where cyclical components are persistent due to intertemporal increasing returns, linking sharpness of turning points and degree of persistence to the form of heterogeneity. Results reveal a model that can explain US GNP using only modest intertemporal returns.
Publication Name: Journal of Monetary Economics
Subject: Economics
ISSN: 0304-3932
Year: 1997
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- Abstracts: Asymmetric business cycle turning points. Intermediate inputs and sectoral comovement in the business cycle. Monopolistic competition, increasing returns to scale, and the importance of productivity shocks
- Abstracts: Tests of production smoothing in selected Japanese industries. Deficits, government expenditures, and tax smoothing in the United States: 1929-1988