Atlantic Economic Journal

, Volume 33, Issue 3, pp 297–309

Modeling Cyclical Asymmetries in GDP: International Evidence

  • José Ramón Cancelo
  • Estefanía Mourelle
Article

DOI: 10.1007/s11293-005-8172-x

Cite this article as:
Cancelo, J.R. & Mourelle, E. Atl Econ J (2005) 33: 297. doi:10.1007/s11293-005-8172-x

Abstract

This paper models asymmetric behavior in GDP growth in the USA, Germany, France, and Japan. It develops smooth transition autoregressive models and interprets nonlinear dynamics in terms of cyclical asymmetries. A procedure for defining data-based, qualitative cyclical regimes from the estimated models is proposed, and generalized impulse response functions are computed to assess to what extent the response to a shock changes over different phases of the cycle.

JEL

E32C22E37

Copyright information

© International Atlantic Economic Society 2005

Authors and Affiliations

  • José Ramón Cancelo
    • 1
  • Estefanía Mourelle
    • 1
  1. 1.Universidade da CoruñaSpain