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Do large recessions reduce output permanently?

Mehdi Hosseinkouchack () and Maik Wolters

Economics Letters, 2013, vol. 121, issue 3, 516-519

Abstract: We apply a recent quantile autoregression unit root test to US GDP. The test takes into account that the transmission of a shock might depend on the sign and the size of the shock. We find that positive and negative shocks including large recessionary shocks like the 2008/2009 crisis have permanent effects on output.

Keywords: Unit root tests; Quantile autoregression; GDP; Recessions; Asymmetries (search for similar items in EconPapers)
JEL-codes: C22 E32 O40 (search for similar items in EconPapers)
Date: 2013
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Working Paper: Do large recessions reduce output permanently? (2013) Downloads
Working Paper: Do large recessions reduce output permanently? (2012) Downloads
Working Paper: Do large recessions reduce output permanently? (2012) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:121:y:2013:i:3:p:516-519

DOI: 10.1016/j.econlet.2013.10.012

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