WPŁYW SZOKÓW NAFTOWYCH NA ASYMETRIĘ CYKLU KONIUNKTURALNEGO - ANALIZA PRZEŁĄCZNIKOWYCH MODELI MARKOWA DLA PAŃSTW UNII EUROPEJSKIEJ
Abstract
Summary
In the study the Markov-switching models with oil prices to analysis of business cycle asymmetries
were considered. We find evidence that business cycles in 1995-2014 were asymmetric
in France, Denmark, Poland, Czech Republic and European Union.
Key words: business cycle, asymmetry, Markov switching model, cointegration, skewness
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