Piger, Jeremy; Morley, James; Kim, Chang-Jin - In: Journal of Applied Econometrics 20 (2005) 2, pp. 291-309
This paper presents a new nonlinear time series model that captures a post-recession 'bounce-back' in the level of aggregate output. While a number of studies have examined this type of business cycle asymmetry using recession-based dummy variables and threshold models, we relate the...