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Unemployment and the smoothness of consumption in business cycle models

✍ Scribed by Liam Graham


Book ID
117332477
Publisher
Elsevier Science
Year
2003
Tongue
English
Weight
163 KB
Volume
79
Category
Article
ISSN
0165-1765

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## Abstract Asymmetry has been well documented in the business cycle literature. The asymmetric business cycle suggests that major macroeconomic series, such as a country's unemployment rate, are non‐linear and, therefore, the use of linear models to explain their behaviour and forecast their futur