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• W2076241441 abstract "We examine dynamic asymmetries in U.S. unemployment using nonlinear time series models and Bayesian methods. We find strong statistical evidence in favor of a two-regime threshold auto-regressive model. Empirical results indicate that, once we take into account both parameter and model uncertainty, there are economically interesting asymmetries in the unemployment rate. One finding of particular interest is that shocks that lower the unemployment rate tend to have a smaller effect than shocks that raise the unemployment rate. This finding is consistent with unemployment rises being sudden and falls gradual." @default.
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• W2076241441 date "1999-07-01" @default.
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• W2076241441 title "Dynamic Asymmetries in U.S. Unemployment" @default.
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• W2076241441 doi "https://doi.org/10.1080/07350015.1999.10524819" @default.
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