A state-level analysis of business cycle asymmetry

Bradley T. Ewing, Mark A. Thompson

Research output: Contribution to journalArticlepeer-review

3 Scopus citations


This paper provides a comprehensive examination of asymmetry in US state-level business cycles. We consider two different types of asymmetry in the adjustment process of a stationary time series: deepness and steepness. The data used in the study are a comparable set of state-level coincident indexes (SCIs) developed by the Federal Reserve Bank of Philadelphia. Specifically, results from using the momentum-threshold autoregressive model provide evidence of asymmetry in the growth rate of 23 SCIs as well as the equivalent national coincident index.

Original languageEnglish (US)
Pages (from-to)367-376
Number of pages10
JournalBulletin of Economic Research
Issue number3
StatePublished - Jul 2012
Externally publishedYes


  • Asymmetry
  • Business cycles
  • Steepness
  • US states

ASJC Scopus subject areas

  • Economics and Econometrics


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