کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
963716 | 930404 | 2007 | 22 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
Asymmetry in business fluctuations: International evidence on Friedman's plucking model
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کلمات کلیدی
موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
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چکیده انگلیسی
Friedman's plucking model of business fluctuations suggests that output cannot exceed a ceiling level, and it is occasionally plucked downward by recession; output has depth and steepness. This study uses a sample of 12 industrial and emerging economies and finds some evidence that negative shocks are largely transitory, while positive shocks are mostly permanent. In a few cases, as implied by the plucking model, output fluctuations tend to be asymmetric: recessions are transitory, and duration dependent, although expansions are not. There is, however, serial correlation in almost all cases. International evidence on Friedman's plucking model is far from robust.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of International Money and Finance - Volume 26, Issue 1, February 2007, Pages 64-85
Journal: Journal of International Money and Finance - Volume 26, Issue 1, February 2007, Pages 64-85
نویسندگان
Francisco Nadal De Simone, Sean Clarke,