Atlantic Economic Journal

, Volume 33, Issue 3, pp 297–309

Modeling Cyclical Asymmetries in GDP: International Evidence

  • José Ramón Cancelo
  • Estefanía Mourelle

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


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.



Copyright information

© International Atlantic Economic Society 2005

Authors and Affiliations

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