This paper presents an empirical analysis of volatility in GDP real growth rates for Portugal over the period 1960 …-2010. The objectives of this paper are threefold: (1) to assess the occurrence of “the Great Moderation” in Portugal and … reveal a progressive “moderation” in Portugal, characterized by two regime changes in both growth rates and volatility. The …

paper is the first where the history of the development of tractors is presented in the fundamental context of innovation …