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-varying parameter models that incorporate both stochastic volatility and a Heckman-type two-step estimation procedure that deals with …
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This paper examines the transmission of GDP growth and GDP growth volatility among the G7 countries over the period … significant own-country output growth volatility and cross-country output growth volatility spillovers indicates that output … growth shocks in most of the G7 countries affect output growth volatility in the remaining others. An additional finding is …
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