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CONSUMPTION–LEISURE TRADE-OFFS AND PERSISTENCY IN BUSINESS CYCLES

✍ Scribed by Ilaski Barañano; M. Paz Moral


Book ID
110981411
Publisher
John Wiley and Sons
Year
2011
Tongue
English
Weight
648 KB
Volume
65
Category
Article
ISSN
0307-3378

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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