| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5060897 | Economics Letters | 2011 | 4 Pages |
Abstract
⺠I examine trend versus difference stationary Markov-switching models for US real GDP. ⺠The former captures the US business cycle features much better than the latter. ⺠Markov-switching unit root tests overwhelmingly accept the null of trend stationary. ⺠This reinforces the view that the effects of recessionary shocks are transitory.
Related Topics
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Economics and Econometrics
Authors
Maximo Camacho,