The relationship between changes in the Economic Sentiment Indicator and real GDP growth: a time-varying coefficient approach

The aim of this paper is to capture the time-varying effects of the relationship between changes in the Economic Sentiment Indicator (ESI) and economic growth. We use penalized regression splines to estimate the different point effects over time. Evidence from six European countries supports the idea that the elasticity of the ESI is time-varying.

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Year of publication:	2010
Authors:	Zanin, Luca
Published in:	Economics Bulletin. - AccessEcon, ISSN 1545-2921. - Vol. 30.2010, 1, p. 837-846
Publisher:	AccessEcon
Subject:	Economic Sentiment Indicator \| Real GDP Growth \| Thin Plate Regression Splines \| Time-Varying Coefficient Model

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Extent:	application/pdf
Type of publication:	Article
Language:	English
Classification:	C2 - Econometric Methods: Single Equation Models ; C5 - Econometric Modeling
Source:	RePEc - Research Papers in Economics

Persistent link: https://ebvufind01.dmz1.zbw.eu/10008540650