Conditional Asymmetries in Real GNP: A Seminonparametric Approach
实际国民生产总值的条件非对称性:半非参数方法
Two critical assumptions are often made in empirical research regarding the relationship between economic variables and economic disturbances--linearity and Gaussianity. Together, these two assumptions place strong restrictions on the time series behavior of a model. Most important, these restrictions imply conditional symmetry. Using seminonparametric (SNP) techniques, this article presents evidence that real gross national product growth displays conditional asymmetry.…