Proceedings of The 8th International Conference on Opportunities and Challenges in Management, Economics and Accounting
Empirical Evidence of Tunisian Business Cyclical asymmetries
The aim of this paper is to treat the asymmetry behavior of the Tunisian business cycle. Thirty time series concerning a variety of macroeconomic and financial fields used in order to check the stylized facts in Tunisian business cycle. By referring to the Skewness and Triples tests and using Markov chain models, we show an evidence asymmetry in that many time series exhibiting this behavior. The economic indicators exhibit an evidence deepth, steepness and Sharpness asymmetry. The financial time series analysis shown that some variables are exhibits a stypness asymmetry and some others are characterised by the depth asymmetry. In terms of economic policies we recommend reviewing any policies based on a linear modelling with Gaussian innovations.
keywords: Business cycle, Asymmetry, Skewness, Triples, Markov Switching.