We analyze asymmetries of the business cycle in the Croatian economy, using various annualized growth rate variables for a period of eighteen years (1992-2010), de-trended by Hodrick-Prescott filter, and following the Harding and Pagan procedure in determination of its turning points. The time...

Does a country with a heavy dependence on a tourism economy have a tendency to succumb to more risk in a recession? With the shift from manufacturing-based economies in the developing world toward service-based industries, including tourism, a reliance on the tourism industry may erode economic...