Modelling cyclical asymetries in European imports
Use este enlace para citar
http://hdl.handle.net/2183/35857Coleccións
- GI-C+D - Artigos [104]
Metadatos
Mostrar o rexistro completo do ítemTítulo
Modelling cyclical asymetries in European importsData
2005Cita bibliográfica
Cancelo, José Ramón; Mourelle, Estefanía (2005): Modeling cyclical asymmetries in GDP: international evidence, Atlantic Economic Journal, 33(3), 297-309.
Resumo
[Abstract]: This paper applies smooth transition models to capture the nonlinear behavior in
the imports data of six major European economies and to assess whether such
nonlinearities are related to business cycle asymmetries. Two classes of switch between
regimes are considered: endogenously determined transition that assumes nonlinearities
are generated by idiosyncratic components specific to foreign trade, and exogenous
transition based on GDP growth as a more direct indicator of the cyclical state of the
economy. The results support the proposition that the dynamics of imports are
nonlinear. In Belgium, France, Spain and the United Kingdom regimes change over the
business cycle, while in Germany and Italy the switch between regimes is endogenous.
National characteristics play a role in defining the position of extreme regimes, the
smoothness of the transition and local dynamics within each state.
Versión do editor
ISSN
1083-0898