León-Ledesma, Miguel A.; Thirlwall, Anthony P. - 1998
The aim of this paper is to estimate the sensitivity of the natural rate of growth to the actual rate of growth for 15 … OECD countries over the period 1961 to 1995, on the hypothesis that the natural rate of growth is not exogenously given. To … do this we estimate the natural rate of growth and, then, how it changes when the actual growth rate is different from …