Two centuries of economic growth: international evidence on deepness and steepness
Autor(a) principal: | |
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Data de Publicação: | 2016 |
Outros Autores: | , , , |
Tipo de documento: | Artigo |
Idioma: | eng |
Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
Texto Completo: | http://hdl.handle.net/10400.6/6816 |
Resumo: | This paper focuses on more than two centuries of annual data. It applies the coefficient of skewness and the triples test, in order to detect the presence of deepness and steepness asymmetries in the real GDP per capita of thirty-one countries. By considering a large set of countries over periods starting from 1800, 1820, 1850, 1870, and 1900 and ending in 2010, the robustness of results was addressed. Both tests reveal the scarcity of international evidence of deepness asymmetry, but point to evidence of negative steepness for several countries. In fact, this negative steepness asymmetry supports the view that phases of expansions last longer than the phases of contraction in the business cycle, and this assumption is true for long time spans. Disregarding asymmetric features of economic growth could result in misconstrued economic policies, resulting from crucial failures to predict turning points in the business cycle. |
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Two centuries of economic growth: international evidence on deepness and steepnessAsymmetrysteepnessBusiness cycleTriples TestThis paper focuses on more than two centuries of annual data. It applies the coefficient of skewness and the triples test, in order to detect the presence of deepness and steepness asymmetries in the real GDP per capita of thirty-one countries. By considering a large set of countries over periods starting from 1800, 1820, 1850, 1870, and 1900 and ending in 2010, the robustness of results was addressed. Both tests reveal the scarcity of international evidence of deepness asymmetry, but point to evidence of negative steepness for several countries. In fact, this negative steepness asymmetry supports the view that phases of expansions last longer than the phases of contraction in the business cycle, and this assumption is true for long time spans. Disregarding asymmetric features of economic growth could result in misconstrued economic policies, resulting from crucial failures to predict turning points in the business cycle.uBibliorumFuinhas, José AlbertoMarques, António CardosoAlmeida, Pedro DeNogueira, David do CoitoBranco, Tânia2019-01-21T17:09:29Z20162016-01-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/articleapplication/pdfhttp://hdl.handle.net/10400.6/6816engmetadata only accessinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2023-12-15T09:45:37Zoai:ubibliorum.ubi.pt:10400.6/6816Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T00:47:27.119710Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
dc.title.none.fl_str_mv |
Two centuries of economic growth: international evidence on deepness and steepness |
title |
Two centuries of economic growth: international evidence on deepness and steepness |
spellingShingle |
Two centuries of economic growth: international evidence on deepness and steepness Fuinhas, José Alberto Asymmetry steepness Business cycle Triples Test |
title_short |
Two centuries of economic growth: international evidence on deepness and steepness |
title_full |
Two centuries of economic growth: international evidence on deepness and steepness |
title_fullStr |
Two centuries of economic growth: international evidence on deepness and steepness |
title_full_unstemmed |
Two centuries of economic growth: international evidence on deepness and steepness |
title_sort |
Two centuries of economic growth: international evidence on deepness and steepness |
author |
Fuinhas, José Alberto |
author_facet |
Fuinhas, José Alberto Marques, António Cardoso Almeida, Pedro De Nogueira, David do Coito Branco, Tânia |
author_role |
author |
author2 |
Marques, António Cardoso Almeida, Pedro De Nogueira, David do Coito Branco, Tânia |
author2_role |
author author author author |
dc.contributor.none.fl_str_mv |
uBibliorum |
dc.contributor.author.fl_str_mv |
Fuinhas, José Alberto Marques, António Cardoso Almeida, Pedro De Nogueira, David do Coito Branco, Tânia |
dc.subject.por.fl_str_mv |
Asymmetry steepness Business cycle Triples Test |
topic |
Asymmetry steepness Business cycle Triples Test |
description |
This paper focuses on more than two centuries of annual data. It applies the coefficient of skewness and the triples test, in order to detect the presence of deepness and steepness asymmetries in the real GDP per capita of thirty-one countries. By considering a large set of countries over periods starting from 1800, 1820, 1850, 1870, and 1900 and ending in 2010, the robustness of results was addressed. Both tests reveal the scarcity of international evidence of deepness asymmetry, but point to evidence of negative steepness for several countries. In fact, this negative steepness asymmetry supports the view that phases of expansions last longer than the phases of contraction in the business cycle, and this assumption is true for long time spans. Disregarding asymmetric features of economic growth could result in misconstrued economic policies, resulting from crucial failures to predict turning points in the business cycle. |
publishDate |
2016 |
dc.date.none.fl_str_mv |
2016 2016-01-01T00:00:00Z 2019-01-21T17:09:29Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://hdl.handle.net/10400.6/6816 |
url |
http://hdl.handle.net/10400.6/6816 |
dc.language.iso.fl_str_mv |
eng |
language |
eng |
dc.rights.driver.fl_str_mv |
metadata only access info:eu-repo/semantics/openAccess |
rights_invalid_str_mv |
metadata only access |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
application/pdf |
dc.source.none.fl_str_mv |
reponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação instacron:RCAAP |
instname_str |
Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
instacron_str |
RCAAP |
institution |
RCAAP |
reponame_str |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
collection |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
repository.name.fl_str_mv |
Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informação |
repository.mail.fl_str_mv |
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1799136369746903040 |