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
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
پیش نمایش صفحه اول مقاله
Asymmetry in business fluctuations: International evidence on Friedman's plucking model
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
نویسندگان
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