Business cycle non-linearities in UK con
β
Nadir Γcal; Denise R. Osborn
π
Article
π
2000
π
John Wiley and Sons
π
English
β 204 KB
This paper develops non-linear smooth transition autoregressive (STAR) models with two additive smooth transition components to capture the business cycle characteristics of UK real consumers' expenditure and industrial production. The results indicate consumption has essentially two business cycle