A note on demand and supply factors in manufacturing output asymmetries

Oleg Korenok, Bruce Mizrach, Stanislav Radchenko

Research output: Contribution to journalArticle

1 Scopus citations


In a Markov switching framework, we show that the duration of recessions is significantly shorter than the duration of expansions in 11 manufacturing sectors, and in aggregate durables and manufacturing output. We find two leading indicators, consumer expectations and the term spread, act as important demand-driven forces behind asymmetry.

Original languageEnglish (US)
Pages (from-to)263-277
Number of pages15
JournalMacroeconomic Dynamics
Issue number2
Publication statusPublished - Apr 1 2009


All Science Journal Classification (ASJC) codes

  • Economics and Econometrics


  • Asymmetry
  • Industry
  • Leading Indicators
  • Markov Switching

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