Testing for business cycle asymmetry: some international evidence

References

• Brock , W. and Sayers , C. 1988 . Is the business cycle characterised by deterministic chaos . Journal of Monetary Economics , 22 : 71 – 90 .
   Web of Science ®Google Scholar
• Burns , A.F. and Mitchell , W.C. 1946 . Measuring Business Cycles , New York : National Bureau of Economic Research . Studies in Business Cycles No. 2
   Google Scholar
• DeLong , J.B. and Summers , L.H. 1986 . “ Are business cycles symmetrical? ” . In The American Business Cycle: Continuity and Change , Edited by: Gordon , R.J. Chicago : Chicago University Press .
   Google Scholar
• Els , P.L.A. van . 1995 . Real business cycle models and money: a survey of theories and stylised facts . Weltwirtschaftliches Archiv , 131 : 223 – 63 .
   Google Scholar
• Falk , B. 1986 . Further evidence on the assymmetric behaviour of economic time series over the business cycle . Journal of Political Economy , 94 : 1096 – 109 .
   Web of Science ®Google Scholar
• Granger , C.W.J. and Terasvirta , T. 1993 . Modelling Non-linear Economic Relationships , Oxford : Oxford University Press .
   Google Scholar
• Hodrick, R. and Prescott, E. (1980) Post-war U.S. business cycles: an empirical investigation, Working Paper, Carnegie-Mellon University, 205.
   Google Scholar
• Keynes , J.M. 1936 . The General Theory of Employment, Interest and Money , London : MacMillan .
   Google Scholar
• King , R.G. and Rebelo , S.T. 1993 . Low frequency filtering and real business cycles . Journal of Economic Dynamics and Control , 17 : 207 – 31 .
   Web of Science ®Google Scholar
• Kydland , F.E. and Prescott , E.C. 1982 . Time to build and aggregate fluctuations . Econometrica , 50 : 1345 – 70 .
   Web of Science ®Google Scholar
• Long , J.B. and Plosser , C. I. 1983 . Real business cycles . Journal of Political Economy , 91 : 39 – 69 .
   Web of Science ®Google Scholar
• Luukkonen , R. and Terasvirta , T. 1991 . Testing linearity of economic time series against cyclical asymmetry . Annales D'Economie et de Statistique , 20/21 : 125 – 42 .
   Google Scholar
• McQueen , G. and Thorley , S. 1993 . Asymmetric buiness cycle turning points . Journal of Monetary Economics , 31 : 341 – 62 .
   Web of Science ®Google Scholar
• Mills , T.C. 1991 . Nonlinear time series models in economics . Journal of Economic Surveys , 5 : 215 – 42 .
   Google Scholar
• Mills , T.C. 1995 . Are there asymmetries of nonlinearities in UK Output . Applied Economics , 27 : 1211 – 18 .
   Web of Science ®Google Scholar
• Mitchell , W.C. 1927 . Business Cycles, The Problem and its Setting , New York : National Bureau of Economic Research .
   Google Scholar
• Neftci , S. 1984 . Are economic time series asymmetric over the business cycle . Journal of Political Economy , 92 : 307 – 28 .
   Web of Science ®Google Scholar
• Newey , W. and West , K. 1987 . A simple positive semi-definite heteroskedasticity and autocorrelation consistent covariance matrix . Econometrica , 55 : 703 – 8 .
   Web of Science ®Google Scholar
• Pesaran , M.H. and Pesaran , B. 1991 . Microfit 3.0 , Oxford : Oxford University Press .
   Google Scholar
• Rothman , P. 1991 . Further evidence on the asymmetric behaviour of unemployment rates over the business cycle . Journal of Macroeconomics , Spring : 291 – 98 .
   Google Scholar
• Sichel , D.E. 1989 . Business cycle asymmetry: a correction . Journal of Political Economy , 97 : 1255 – 60 .
   Web of Science ®Google Scholar
• Sichel , D.E. 1993 . Business cycle asymmetry: a deeper look . Economic Inquiry , 31 : 224 – 36 .
   Web of Science ®Google Scholar
• Terasvirta , T. and Anderson , H. 1992 . Characterising non-linearities in business cycles using smooth transition autoregressive models . Journal of Applied Econometrics , 7 : S119 – 36 .
   Web of Science ®Google Scholar
• Westlund , A. and Ohlen , S. 1993 . On testing for symmetry in business cycles . Empirical Economics , 16 : 479 – 502 .
   Google Scholar