, traditional factor analysis is adapted to develop parsimonious estimation methods for high dimension time series models. The …

versions. We interpret UK Phillips curve dynamics in a positive theory of monetary policy - how policy-maker attitudes on the …

This paper shows that there exists a strong positive correlation between long-term growth rates and the persistence of … output fluctuations in a cross section of countries. We argue that the traditional explanation of persistence, a real …, output fluctuations are persistent and the degree of persistence is an increasing function of long-term growth rates. Growth …

persistence. This view is questioned in the paper using German data on unemployment. A new class of time-series models, the …

This paper reviews the cross-country record of economic growth, using as organizing framework how economic theory has …

in economic growth clarifies those difficulties. (3) The data, more revealingly modelled, show persistence and immobility …