Canarella, Giorgio; Fang, Wen-shwo; Miller, Stephen M.; … - 2008
Department of Economics Working Paper Series
Is the Great Moderation Ending? UK and US Evidence
Giorgio Canarella … rates over the business cycle. Further, in the US, both
autoregressive coefficients in state 1 and state 2 are significant … the
UK business cycle may differ from that of the US.
Table 2 also reports the results of a series of diagnostic tests …