The impact of human and public capital on growth is a major issue in economic theory and in policy evaluation. Using a cointegrated VAR, we estimate a Cobb-Douglas production function for Portugal with public and human capital. Return rates are then computed with and without dynamic feedbacks....

The impact of human and public capital on growth is a major issue in economic theory and in policy evaluation. Using a cointegrated vector autoregression (VAR),weestimate a Cobb-Douglas production function for Portugal with public and human capital. Return rates are then computed with and...

The hypothetical existence of rationing in the credit market is of paramount importance to understand the transmission mechanism of monetary policy. Two indirect empirical tests of credit rationing are presented and discussed using Portuguese data. The first test is a stickiness test to the...

Augmented Dickey Fuller (ADF) and Kalman filter convergence tests are applied to annual GDPs per head to 16 industrialized countries from 1890 to 1989. Results favor convergence towards the U.S. with a structural break following the Second World War. Estimates suggest that steady-states were...