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Are business cycles asymmetric? Some European evidence

Author

Listed:
  • Amado Peiró Giménez

    (Universitat de València)

Abstract

Economic thought has ofien regal'ded business cycles as asymmetric. This papel' examines the existence of asymmetries over the business cycle in three European countries: France, Germany and the United Kingdom. To analyze this issue, industrial production in these countries from 1957 to 1994 is examined, and quarterly contractions and expansions in this variable are compared. The results obtained with both parametric and nonparametric methods allow the existence of asymmetries in these countries to be questioned. El pensamiento económico ha considerado frecuentemente que los ciclos económicos son de naturaleza asimétrica. Este trabajo examina la existencia de asimetrías en los ciclos económicos de tres países europeos: Francia, Alemania y el Reino Unido. Para analizar este tema, se estudia la producción industrial en estos países desde 1957 a 1994 y se comparan las contracciones y expansiones en esta variable. Los resultados obtenidos, tanto con métodos paramétricos como con métodos no paramétricos, cuestionan la existencia de asimetrías en estos países.

Suggested Citation

  • Amado Peiró Giménez, 1997. "Are business cycles asymmetric? Some European evidence," Working Papers. Serie EC 1997-08, Instituto Valenciano de Investigaciones Económicas, S.A. (Ivie).
    • Handle: RePEc:ivi:wpasec:1997-08
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    File URL: http://www.ivie.es/downloads/docs/wpasec/wpasec-1997-08.pdf
    File Function: Fisrt version / Primera version, 1997
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    More about this item

    Keywords

    Ciclos económicos; simetría Business cycle; symmetry;
    All these keywords.

    JEL classification:

    • E32 - Macroeconomics and Monetary Economics - - Prices, Business Fluctuations, and Cycles - - - Business Fluctuations; Cycles

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