Conditional mean functions of non-linear models of US output
Ana Galvão () and
Empirical Economics, 2002, vol. 27, issue 4, 569-586
We compare a number of models of post War US output growth in terms of the degree and pattern of non-linearity they impart to the conditional mean, where we condition on either the previous period's growth rate, or the previous two periods' growth rates. The conditional means are estimated non-parametrically using a nearest-neighbour technique on data simulated from the models. In this way, we condense the complex, dynamic, responses that may be present in to graphical displays of the implied conditional mean.
Keywords: non-linearity; ·; business; cycles; ·; non-parametric; conditional; mean; estimates. (search for similar items in EconPapers)
JEL-codes: C14 C22 (search for similar items in EconPapers)
Note: received: Feb. 1999/Final version received: June 2001
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