Title of article :
Asymmetric adjustment from structural booms and slumps
Author/Authors :
Pierre L. Siklos، نويسنده ,
Issue Information :
روزنامه با شماره پیاپی سال 2002
Abstract :
The connection between booms and slumps in economic activity and stock markets is explored with US and UK data. Based on Phelps [Structural Slumps: The Modern Equilibrium Theory of Unemployment, Interest, and Assets. Harvard University Press, Cambridge, MA, 1994] and Phelps and Zoega [Economic Policy 32 (2001) 85–126], the cointegrating relationship between stock returns and economic activity requires asymmetric adjustment in the short-run.
Keywords :
Booms , Slumps , Asymmetry , cointegration
Journal title :
Economics Letters
Journal title :
Economics Letters