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dc.contributor.authorKorenok, Olegen
dc.contributor.authorMizrach, Bruceen
dc.contributor.authorRadchenko, Stanislaven
dc.date.accessioned2009-01-29T15:49:22Z-
dc.date.available2009-01-29T15:49:22Z-
dc.date.issued2004-
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
dc.language.isoengen
dc.publisher|aRutgers University, Department of Economics |cNew Brunswick, NJen
dc.relation.ispartofseries|aWorking Paper |x2004-05en
dc.subject.jelE32en
dc.subject.jelE24en
dc.subject.jelE23en
dc.subject.ddc330en
dc.subject.keywordasymmetryen
dc.subject.keywordindustryen
dc.subject.keywordtriples testen
dc.subject.keywordMarkov switchingen
dc.subject.keywordoil pricesen
dc.subject.keywordinventoriesen
dc.subject.keywordleading indicatorsen
dc.subject.stwKonjunkturen
dc.subject.stwBranchenkonjunkturen
dc.subject.stwArbeitsmobilitäten
dc.subject.stwErdölpreisen
dc.subject.stwMarkovscher Prozessen
dc.subject.stwKonjunkturindikatoren
dc.subject.stwVereinigte Staatenen
dc.titleThe Microeconomics of Macroeconomic Asymmetries : Sectoral Driving Forces and Firm Level Characteristics-
dc.typeWorking Paperen
dc.identifier.ppn379924889en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen
dc.identifier.repecRePEc:rut:rutres:200405en

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