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Licensed Unlicensed Requires Authentication Published by De Gruyter July 1, 2000

Are Business Cycle Dynamics the Same across Countries? Testing Linearity around the Globe

  • Michael D. Bradley and Dennis W. Jansen

We investigate business cycle dynamics for 26 countries, estimating a set of nonlinear models for real GDP where appropriate. We find a great deal of heterogeneity in the dynamics of real output growth across countries. At the same time, a common feature is the asymmetric response of real GDP to shocks and the tendency for negative real GDP shocks to be less persistent than positive real GDP shocks.

Published Online: 2000-7-1

©2011 Walter de Gruyter GmbH & Co. KG, Berlin/Boston

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