Jacobson, Tor; Lindh, Thomas; Warne, Anders - In: Studies in Nonlinear Dynamics & Econometrics 5 (2007) 4, pp. 1081-1081
We report evidence that the relation between the financial-sector share, private saving, and growth in the United States in 1948-96 is characterized by several regime shifts. The finding is based on vector autoregressions on quarterly data that allow for Markov switching regimes. The evidence...
