In:
Macroeconomic Dynamics, Cambridge University Press (CUP), Vol. 13, No. 2 ( 2009-04), p. 263-277
Abstract:
In a Markov switching framework, we show that the duration of recessions is significantly shorter than the duration of expansions in 11 manufacturing sectors, and in aggregate durables and manufacturing output. We find two leading indicators, consumer expectations and the term spread, act as important demand-driven forces behind asymmetry.
Type of Medium:
Online Resource
ISSN:
1365-1005
,
1469-8056
DOI:
10.1017/S136510050807048X
Language:
English
Publisher:
Cambridge University Press (CUP)
Publication Date:
2009
detail.hit.zdb_id:
1501533-6
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