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Further evidence on business cycle asymmetries in G7 countries.
- Source :
- Applied Economics; 5/10/2002, Vol. 34 Issue 7, p895-904, 10p, 5 Charts
- Publication Year :
- 2002
-
Abstract
- This paper tests for business cycle symmetry in G7 countries during the post-World War II period using a number of tests, each reflecting alternative definitions of business cycle asymmetry. The tests are applied to monthly coincident economic indicators of business cycles. This found that business cycles in the US are characterized by both longitudinal (deepness) and transversal (steepness and sharpness) asymmetries: further, it is found that asymmetric transition probabilties and time irreversibility are due to nonlinearities. On the contrary, business cycles in Germany exhibits a symmetric behaviour. Between these extremes are the other countries, for which at least one of the tests here considered rejects the null of cyclical symmetry. Particularly, business cycle is characterized by deepness and sharpness in Canada, asymmetry in persistence in France and Japan, and asymmetric transition probabilities in France and United Kingdom. [ABSTRACT FROM AUTHOR]
- Subjects :
- BUSINESS cycles
GROUP of Seven countries
WORLD War II
ECONOMIC indicators
ECONOMICS
Subjects
Details
- Language :
- English
- ISSN :
- 00036846
- Volume :
- 34
- Issue :
- 7
- Database :
- Complementary Index
- Journal :
- Applied Economics
- Publication Type :
- Academic Journal
- Accession number :
- 6650330
- Full Text :
- https://doi.org/10.1080/00036840110060984