## Abstract The ability of Markovโswitching (MS) autoregressive models to replicate selected classical business cycle features found in US postโwar consumption, investment and output is compared to that of linear models. Univariate MS models appear to offer more dynamically parsimonious representat
The role of inventory investment as a leading indicator of the US business cycle
โ Scribed by Andrew Stern; Noemi Halpern
- Publisher
- Elsevier Science
- Year
- 1994
- Tongue
- English
- Weight
- 851 KB
- Volume
- 35
- Category
- Article
- ISSN
- 0925-5273
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๐ SIMILAR VOLUMES
Most empirical investigations of the business cycles in the United States have excluded the dimension of asymmetric conditional volatility. This paper analyses the volatility dynamics of the US business cycle by comparing the performance of various multivariate generalised autoregressive conditional
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