Advanced Search
MyIDEAS: Login

Heterogeneous growth cycles/Ciclos de crecimiento heterogéneo

Contents:

Author Info

  • HERNÁNDEZ-VELEROS, ZEUS SALVADOR

    ()
    (Cuerpo Académico de Economía, Instituto de Ciencias Económico Administrativas. Universidad Autónoma del Estado de Hidalgo, México.)

Registered author(s):

    Abstract

    This paper focuses on the Dirichlet and the Dirichlet-multinomial distributions to analyze one definition of the cycle based on three economic performance regimens: augmentation, stagnation and diminution. We use data from 142 economies grouped in seven clusters during the second half of the last century, a period which has witnessed various structural changes. Furthermore, this paper advances to investigate what the probabilities are of reaching significant positive growth rates – the frequency of the augmentation regimen – which prevailed during the decade from 1950 to 1960, using Bayesian statistics. Este artículo se enfoca en las distribuciones Dirichlet y Dirichlet-multinomial para analizar una definición de ciclo basada en tres regímenes de desempeño económico: incremento, estancamiento y decrecimiento. Empleamos datos del producto interno bruto per cápita 142 economías agrupadas en siete clusters, correspondientes al periodo 1950-2000, el cual ha sido testigo de diferentes cambios estructurales. Asimismo, se investiga cuál es la probabilidad de que se presenten las frecuencias de las tasas de crecimiento positivas significativas –frecuencias del régimen de incremento- observadas en los años cincuenta, gracias al uso de estadística bayesiana.

    Download Info

    If you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
    File URL: http://www.revista-eea.net
    Download Restriction: Access to full text is restricted to subscribers.

    As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.

    Bibliographic Info

    Article provided by Estudios de Economía Aplicada in its journal Estudios de Economía Aplicada.

    Volume (Year): 28 (2010)
    Issue (Month): (Diciembre)
    Pages: 625-650

    as in new window
    Handle: RePEc:lrk:eeaart:28_3_7

    Contact details of provider:
    Postal: Beatriz Rodríguez Prado. Facultad de CC.EE. y EE. Avda. Valle del Esgueva. Valladolid 47011 SPAIN
    Phone: (34) 983 423320
    Fax: (34) 983 184568
    Web page: http://www.revista-eea.net
    More information through EDIRC

    Order Information:
    Email:
    Web: http://www.revista-eea.net

    Related research

    Keywords: ciclos de crecimiento; tendencia de largo plazo; distribución Dirichet-multinomial; estadística bayesiana; cambio estructural (Monográfico: Nuevos desarrollos del ciclo económico) ; growth cycles; long trend; Dirichlet-multinomial distribution; Bayesian statistics; structural change.;

    Find related papers by JEL classification:

    References

    References listed on IDEAS
    Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
    as in new window
    1. Perron, Pierre & Zhu, Xiaokang, 2005. "Structural breaks with deterministic and stochastic trends," Journal of Econometrics, Elsevier, vol. 129(1-2), pages 65-119.
    2. Josep Lluis Carrion Silvestre & Tomas del Barrio Castro & Enrique Lopez Bazo, 2003. "Breaking the panels. An application to the GDP per capita," Working Papers in Economics 97, Universitat de Barcelona. Espai de Recerca en Economia.
    3. McKay, Alisdair & Reis, Ricardo, 2008. "The brevity and violence of contractions and expansions," Journal of Monetary Economics, Elsevier, vol. 55(4), pages 738-751, May.
    4. Christina D. Romer, 1999. "Changes in Business Cycles: Evidence and Explanations," Journal of Economic Perspectives, American Economic Association, vol. 13(2), pages 23-44, Spring.
    5. Mark Aguiar & Gita Gopinath, 2004. "Emerging market business cycles: the cycle is the trend," Working Papers 04-4, Federal Reserve Bank of Boston.
    6. M.S.Rafiq, 2006. "Business Cycle Moderation - Good Policies or Good Luck: Evidence and Explanations for the Euro Area," Discussion Paper Series 2006_21, Department of Economics, Loughborough University.
    7. Huang, Ho-Chuan, 2005. "Diverging evidence of convergence hypothesis," Journal of Macroeconomics, Elsevier, vol. 27(2), pages 233-255, June.
    8. Perron, P, 1988. "The Great Crash, The Oil Price Shock And The Unit Root Hypothesis," Papers 338, Princeton, Department of Economics - Econometric Research Program.
    9. J. Bradford De Long & Lawrence H. Summers, 1986. "Are Business Cycles Symmetric?," NBER Working Papers 1444, National Bureau of Economic Research, Inc.
    10. Lau, Sau-Him Paul, 1997. "Using stochastic growth models to understand unit roots and breaking trends," Journal of Economic Dynamics and Control, Elsevier, vol. 21(10), pages 1645-1667, August.
    11. Aguiar, Mark & Gopinath, Gita, 2007. "Emerging Market Business Cycles: The Cycle is the Trend," Scholarly Articles 11988098, Harvard University Department of Economics.
    12. Felipe Larraín & Se Kyu Choi-Ha, 2003. "Recesiones, Apertura y Régimen Cambiario," Latin American Journal of Economics-formerly Cuadernos de Economía, Instituto de Economía. Pontificia Universidad Católica de Chile., vol. 40(121), pages 668-678.
    Full references (including those not matched with items on IDEAS)

    Citations

    Lists

    This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

    Statistics

    Access and download statistics

    Corrections

    When requesting a correction, please mention this item's handle: RePEc:lrk:eeaart:28_3_7. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Beatriz Rodríguez Prado).

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If references are entirely missing, you can add them using this form.

    If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.