Expansions and contractions in Brazil, Colombia and Mexico: a view through non-linear models

Number: 
186
Published: 
Classification JEL: 
C22, C52
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy

The study of the asymmetric behavior of macroeconomic variables over the business cycles phases has had a long tradition in economics. In this work we find evidence in favor of the hypothesis of having a STAR-type nonlinear asymmetric behavior of the econ