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# Paul A. Johnson Economics 210 Second Applied Project Your completed projects are due at my office no later than 5 PM on Monday, May 17, 2010. Your...

(n) There have been claims that the response of delta.u_t to changes in the growth rate of real GDP (i.e. delta.y_t) is asymmetric with u_t rising more quickly in recessions than it falls in expansions. Test this hypothesis by examining whether or not the response of delta.u_t to delta.y_t is larger (in absolute value) when delta.y_t is negative that when delta.y_t is positive. HINT: An indicator variable might help.