Asymmetric business cycles and sovereign default

Grey Gordon and Pablo Guerron

Economics Letters, 2017, vol. 161, issue C, 116-119

Abstract: What accounts for asymmetric (negatively skewed) business cycles in emerging economies? We show the asymmetry is tied to default risk and that a sovereign default model delivers negative skew.

Keywords: Skewness; Asymmetry; Business cycles; Default (search for similar items in EconPapers)
JEL-codes: F34 F41 F44 (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:161:y:2017:i:c:p:116-119

DOI: 10.1016/j.econlet.2017.09.005

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