Business Cycle Asymmetries: International Evidence |
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| Institution: | 1. Department of Chemistry, Faculty of Sciences, University of Birjand, Birjand, Iran;2. Department of Chemistry, Faculty of Sciences, K.N. Toosi University of Technology, Tehran 16617, Iran;3. School of Chemistry, University College of Science, University of Tehran, P.O. Box 14155-6455, Tehran, Iran;4. Department of Chemistry, Institute for Advanced Studies in Basic Sciences (IASBS), Zanjan, Iran;1. Department of International Business, Southern Taiwan University of Science and Technology, No. 1, Nantai Street, Yukung Dist., Tainan 71005, Taiwan;2. Department of Business Administration, Da-Yeh University, No. 168, University Rd., Dacun, Changhua 51591, Taiwan |
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| Abstract: | This paper uses the Triples test of Randles et al. (1980, Journal of the American Statistical Association, 75, 168–172) to detect asymmetries in U.S. as well as international GDP fluctuations. The test does not detect any asymmetry in the distribution of the U.S. GDP, which is consistent with previous empirical findings. However, significant asymmetries are found in international data. Detection of asymmetries is a first step toward model-selection process such that stylized facts can be replicated. Journal of Economic Literature Classification Numbers: E3, E32, C14. |
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