The non-linear dynamics of output and unemployment in the U.S

This paper studies the joint dynamics of U.S. output and unemployment rate in a non-linear VAR model. The non-linearity is introduced through a feedback variable that endogenously augments the output lags of the VAR in recessionary phases. Sufficient conditions for the ergodicity of the model, poten...

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Veröffentlicht in:	Journal of applied econometrics (Chichester, England) England), 2001-07, Vol.16 (4), p.461-486
Hauptverfasser:	Altissimo, Filippo, Violante, Giovanni L.
Format:	Artikel
Sprache:	eng
Schlagworte:	Correlation Econometrics Economic conditions Economic fluctuations Economic growth Economic models Economic recessions Ergodic theory Food economics Growth rate Growth rates Growth recessions Macroeconomics Modeling Non-linear models Output Propagation Recession Recessions Studies U.S.A Unemployment Unemployment rates Vector autoregression
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