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dc.contributor.authorKorenok, Olegen_US
dc.contributor.authorMizrach, Bruceen_US
dc.contributor.authorRadchenko, Stanislaven_US
dc.date.accessioned2009-01-29T15:49:22Z-
dc.date.available2009-01-29T15:49:22Z-
dc.date.issued2004en_US
dc.identifier.urihttp://hdl.handle.net/10419/23184-
dc.description.abstractThere is now considerable evidence that business cycle variation in output and employment in the U.S. di¤ers in expansions and contractions. We present nonparametric evidence that asymmetries are strongest in durable goods manufacturing. In a Markov switching framework, we find two leading indicators, consumer expectations and the term spread, act as important driving forces behind asymmetry. Cross sectional analysis, using firm level data, shows that plant and equipment expenditures, raw materials inventory holdings, and bankruptcy score increase the likelihood ratio index for asymmetry by more than 65%.en_US
dc.language.isoengen_US
dc.publisheren_US
dc.relation.ispartofseriesWorking papers / Rutgers University, Department of Economics 2004,05en_US
dc.subject.jelE32en_US
dc.subject.jelE24en_US
dc.subject.jelE23en_US
dc.subject.ddc330en_US
dc.subject.keywordasymmetryen_US
dc.subject.keywordindustryen_US
dc.subject.keywordtriples testen_US
dc.subject.keywordMarkov switchingen_US
dc.subject.keywordoil pricesen_US
dc.subject.keywordinventoriesen_US
dc.subject.keywordleading indicatorsen_US
dc.subject.stwKonjunkturen_US
dc.subject.stwBranchenkonjunkturen_US
dc.subject.stwArbeitsmobilitäten_US
dc.subject.stwErdölpreisen_US
dc.subject.stwMarkovscher Prozessen_US
dc.subject.stwKonjunkturindikatoren_US
dc.subject.stwVereinigte Staatenen_US
dc.titleThe Microeconomics of Macroeconomic Asymmetries : Sectoral Driving Forces and Firm Level Characteristicsen_US
dc.typeWorking Paperen_US
dc.identifier.ppn379924889en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungen-
Appears in Collections:Working Papers, Department of Economics, Rutgers University

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