techniques might led to erroneous interpretation of thebusiness cycle. As all methods have strengths and weaknesses, we derive a …

Using a recently introduced nonparametric test, I investigate two important and distinct asymmetries in cross …-country quarterly macroeconomic time series. Asymmetries are suggested by many theories (old and new), and those discovered aid in the …). Further, asymmetries can help determine underlying economic mechanisms. The key findings: positive growth rate asymmetry is …