This paper investigates comovements between the United States and Australia. Our nonlinear model allows the dynamic response to shocks to differ if countries are in recession. Generalised Impulse Response Functions highlight a significant asymmetric response to positive and negative shocks.
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Length: 11 pages Date of creation: 2002 Date of revision: Handle: RePEc:mlb:wpaper:857
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Find related papers by JEL classification: E0 - Macroeconomics and Monetary Economics - - General N1 - Economic History - - Macroeconomics and Monetary Economics; Growth and Fluctuations
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.:
Gregory, Allan W & Head, Allen C & Raynauld, Jacques, 1997.
"Measuring World Business Cycles,"
International Economic Review,
Department of Economics, University of Pennsylvania and Osaka University Institute of Social and Economic Research Association, vol. 38(3), pages 677-701, August.
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