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In this paper, we analyze the relationship between nominal and real GDP growth for G7 countries for the period 1971 … between nominal and real GDP growth rates changes from a positive one to a flat one. Moreover, the volatility of real growth … is observed to be higher at high rates of nominal GDP growth. We first test for the presence of a two regime non …
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This paper uses a VAR model to quantify the relative importance of external debt, exchange rates, monetary policy and other selected variables when explaining output fluctuations in Brazil. Using the money market rate as a policy instrument, impulse response functions indicate that shocks to the...
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