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Investigating business cycle asymmetry for the G7 countries : evidence from over a century of data

Narayan, Paresh and Popp, Stephan 2009, Investigating business cycle asymmetry for the G7 countries : evidence from over a century of data, International review of economics & finance, vol. 18, no. 4, pp. 583-591.

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Title Investigating business cycle asymmetry for the G7 countries : evidence from over a century of data
Author(s) Narayan, Paresh
Popp, Stephan
Journal name International review of economics & finance
Volume number 18
Issue number 4
Start page 583
End page 591
Publisher Elsevier
Place of publication Amsterdam, Netherlands
Publication date 2009-10
ISSN 1059-0560
1873-8036
Keyword(s) Entropy-based test for asymmetry
GDP
Summary In this paper we test for asymmetric behaviour of business cycles for the G7 countries, using the entropy-based test for asymmetry suggested by Racine and Maasoumi [Racine, J.S., & Maasoumi, E. (in press-a). A versatile and robust metric entropy test of time-reversibility, and other hypotheses, Journal of Econometrics; Racine, J.S., & Maasoumi, E. (in press-b). A robust entropy based test for asymmetry. Econometric Reviews.]. We find overwhelming evidence of symmetry. In only 14% of the cases, we find some evidence of asymmetric behaviour of GDP and per capita GDP. More importantly, the period marked by the flexible exchange rate regime, over which much of the empirical work for the G7 countries has been conducted, evidence suggests that the two GDP series are symmetric.
Language eng
Field of Research 140202 Economic Development and Growth
Socio Economic Objective 910103 Economic Growth
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2008, Elsevier Inc.
Persistent URL http://hdl.handle.net/10536/DRO/DU:30022707

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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