Showing 101 - 110 of 193
A novel approach is presented for the analysis of regime switching behaviour based upon the use of Geary's runs test. The proposed method is used to examine recent evidence presented concerning the application of alternative models of asymmetric error correction. The results derived show the...
Persistent link: https://www.econbiz.de/10009202679
The diagnostic tests of time deformation presented by Stock are applied to UK output. In contrast to previous findings, significant evidence of time deformation is detected. It is shown that the success of this analysis is due to closely following the approach outlined in the seminal work of...
Persistent link: https://www.econbiz.de/10009202754
Following Holly and Stannett, a standard approach has emerged in the implementation of Sichel's tests of business cycle asymmetry, whereby seasonally adjusted data is detrended via Hodrick-Prescott filtering. While Speight and MacMillan have considered the impact of alternative methods of...
Persistent link: https://www.econbiz.de/10009202852
The cointegrated nature of UK consumption and income is examined using 'official' seasonally adjusted data and data which have been seasonally adjusted using an alternative well-established method. It is found that the presence of cointegrating relationship is dependent upon the method of...
Persistent link: https://www.econbiz.de/10009202876
In this letter regional variation in the asymmetric behaviour of the cyclical element of UK unemployment is examined. Strong evidence of asymmetry in the level of the cyclical element of unemployment is found for both the UK as a whole and all of the regions considered. Strong evidence of...
Persistent link: https://www.econbiz.de/10009202958
Recent work has shown the components of consumers' expenditure to exhibit differing temporal properties. Evidence from univariate tests of asymmetric behaviour and time deformation models have found durable consumption to possess excessive cyclicality and display a greater degree of asymmetric...
Persistent link: https://www.econbiz.de/10009207825
Persistent link: https://www.econbiz.de/10004736170
Persistent link: https://www.econbiz.de/10012173896
Persistent link: https://www.econbiz.de/10006786394
Persistent link: https://www.econbiz.de/10006749638