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https://hdl.handle.net/10419/23184
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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Korenok, Oleg | en |
dc.contributor.author | Mizrach, Bruce | en |
dc.contributor.author | Radchenko, Stanislav | en |
dc.date.accessioned | 2009-01-29T15:49:22Z | - |
dc.date.available | 2009-01-29T15:49:22Z | - |
dc.date.issued | 2004 | - |
dc.identifier.uri | http://hdl.handle.net/10419/23184 | - |
dc.description.abstract | There 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 |
dc.language.iso | eng | en |
dc.publisher | |aRutgers University, Department of Economics |cNew Brunswick, NJ | en |
dc.relation.ispartofseries | |aWorking Paper |x2004-05 | en |
dc.subject.jel | E32 | en |
dc.subject.jel | E24 | en |
dc.subject.jel | E23 | en |
dc.subject.ddc | 330 | en |
dc.subject.keyword | asymmetry | en |
dc.subject.keyword | industry | en |
dc.subject.keyword | triples test | en |
dc.subject.keyword | Markov switching | en |
dc.subject.keyword | oil prices | en |
dc.subject.keyword | inventories | en |
dc.subject.keyword | leading indicators | en |
dc.subject.stw | Konjunktur | en |
dc.subject.stw | Branchenkonjunktur | en |
dc.subject.stw | Arbeitsmobilität | en |
dc.subject.stw | Erdölpreis | en |
dc.subject.stw | Markovscher Prozess | en |
dc.subject.stw | Konjunkturindikator | en |
dc.subject.stw | Vereinigte Staaten | en |
dc.title | The Microeconomics of Macroeconomic Asymmetries : Sectoral Driving Forces and Firm Level Characteristics | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 379924889 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
dc.identifier.repec | RePEc:rut:rutres:200405 | en |
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