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Are business cycles asymmetric? Some European evidence

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Abstract:

Economic thought has often regarded business cycles as asymmetric. This study examines the existence of asymmetries over the business cycle in seven European countries: France, Germany, Ireland, Italy, Luxembourg, The Netherlands and the United Kingdom. To analyse this issue, industrial production in these countries from 1957 to 1998 is examined, and quarterly contractions and expansions in this variable are compared. The results obtained with both parametric and non- parametric methods allow the existence of asymmetries in these countries to be questioned.

Document Type: Research Article

DOI: https://doi.org/10.1080/00036840410001674268

Affiliations: Departament d'Anàlisi Econòmica Universitat de València Av. dels Tarongers s/n 46022 València Spain

Publication date: 2004-03-01

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