The main purpose of this paper is to investigate the causal relationship between knowledge (research output) and economic growth in US over 1981 to 2011. To overcome the issues of ignoring possible instability and hence, falsely assuming a constant relationship through the years, we use...

This paper investigates the existence of spillovers from the housing sector onto consumption and the interest rate for South Africa using a time-varying vector autoregressive (TVP-VAR) model with stochastic volatility. In this regard, we estimate a three-variable TVP-VAR model comprising of real...