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:: Volume 28, Issue 95 (Quarterly journal of economic research and policies 2020) ::
qjerp 2020, 28(95): 109-136 Back to browse issues page
Business cycles in Iran: Evidence from asymmetry and correlated shocks
Ali Taiebnia , Saeed Taghimollaee *
, saeed.tmle@gmail.com
Abstract:   (4610 Views)
In this Paper, business cycle asymmetry in Iran has been investigated using a nonlinear unobserved component model. In this regard, according to Kim and Nelson's (1999) interpretation of Friedman plucking model (1993), asymmetric transitory component has been modeled and simultaneously the possibility of a correlation between transitory and permanent shocks has also been considered. The results confirm weakly the asymmetric transitory shocks and the ceiling level for output according to Friedman’s model. In addition, it is also suggested by the results that ignoring the correlation between shocks underestimates the importance of permanent shocks to GDP. 
Keywords: Business cycles, Permanent shocks, transitory Shocks, Unobserved component, Markov Swiching
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Type of Study: Applicable | Subject: Special
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taiebnia A, taghimollaee S. Business cycles in Iran: Evidence from asymmetry and correlated shocks. qjerp 2020; 28 (95) :109-136
URL: http://qjerp.ir/article-1-1988-en.html


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Volume 28, Issue 95 (Quarterly journal of economic research and policies 2020) Back to browse issues page
فصلنامه پژوهشها و سیاستهای اقتصادی Journal of Economic Research and Policies
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