Abstract
In this paper we study the possible asymmetry of business cycles using time series techniques. The hypothesis of linearity is tested against various forms of nonlinearity, some of which are capable of representing processes generating nonsym metric cycles. Quarterly unemployment and industrial production series are used as business cycle indicators, and the data consists of 13 OECD countries. The test results indicate that many macroe conomic time series are nonlinear and may be asymmetric.
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