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The duration of recessions follows an exponential not a power law

Ian Wright

Physica A: Statistical Mechanics and its Applications, 2005, vol. 345, issue 3, 608-610

Abstract: Ormerod and Mounfield (Physica A 293 (2001) 573) analyse GDP data of 17 leading capitalist economies from 1870 to 1994 and conclude that the frequency of the duration of recessions is consistent with a power law. But in fact the data is consistent with an exponential (Boltzmann–Gibbs) law.

Keywords: Econophysics; Power laws; Exponential laws (search for similar items in EconPapers)
Date: 2005
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Working Paper: The duration of recessions follows an exponential not a power law (2011) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:eee:phsmap:v:345:y:2005:i:3:p:608-610

DOI: 10.1016/j.physa.2004.07.035

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