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This paper investigates the effects of macroeconomic uncertainty on economic growth in the presence of fiscal consolidation in South Africa. Markov-switching dynamic regression (MSDR) and time-varying parameter vector autoregression (TVP-VAR) were performed using time series data from 1994 to...
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Unites States of America (USA). We confirm the heterogeneity of Okun's coefficient across country, and its time … and USA in between. Policy wise, we claim that austerity policies may have unexpected adverse effects on job creation if …
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