Kim, Chang-jin (contributor); Piger, Jeremy Max (contributor) - 2001 - [Elektronische Ressource]
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Abstract
This paper investigates the nature of U.S. business cycle asymmetry using a dynamic factor model of
output … has a long history. Early students of the business cycle, including Mitchell (1927),
Keynes (1936), and Burns and Mitchell … different in the two models.
The first model, due to Hamilton (1989), divides the business cycle into two phases, negative
trend …