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- Title
A STATE-LEVEL ANALYSIS OF BUSINESS CYCLE ASYMMETRY.
- Authors
Ewing, Bradley T.; Thompson, Mark A.
- Abstract
ABSTRACT This paper provides a comprehensive examination of asymmetry in US state-level business cycles. We consider two different types of asymmetry in the adjustment process of a stationary time series: deepness and steepness. The data used in the study are a comparable set of state-level coincident indexes (SCIs) developed by the Federal Reserve Bank of Philadelphia. Specifically, results from using the momentum-threshold autoregressive model provide evidence of asymmetry in the growth rate of 23 SCIs as well as the equivalent national coincident index.
- Subjects
PHILADELPHIA (Pa.); PENNSYLVANIA; UNITED States; AUTOREGRESSION (Statistics); FEDERAL Reserve Bank of Philadelphia; BUSINESS cycles
- Publication
Bulletin of Economic Research, 2012, Vol 64, Issue 3, p367
- ISSN
0307-3378
- Publication type
Article
- DOI
10.1111/j.1467-8586.2010.00365.x