The Asymmetric Business Cycle

By James Morley, Jeremy Piger. Review of Economics and Statistics, 2012

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State-dependent effects of fiscal policy (2014, background): “[29] Morley, J.”
Economic Policy Uncertainty Spillovers in Booms and Busts (2019, unknown): “…Ravenna (2018)). an Evidence pointing to an asymmetric behavior of the unemployment rate is provided by, among others, Koop and Potter (1999), van Dijk, Tersvirta, and Franses (2002), Morley and Piger (2012), and Morley, Piger, and Tien (2013) for the US, and Dibooglu and Enders (2001) for Canada.”
Reconciling Output Gaps: Unobserved Components Model and Hodrick-Prescott Filter (2017, methodology): “Following Morley et al. (2003), we refer to this model as UCUR. The drift μ can be interpreted as the average growth rate of trend output. Morley et al. (2003) show that the trend-cycle decomposition from this correlated unobserved components model is equivalent to the one obtained from the Beveridg”