This paper investigates the impact of the money supply in different states of inflation and economic growth in South Africa from 1990 to 2021. The term "states" defines periods of low and high rates of economic variables of interest. Markov-switching dynamic regression (MSDRM) and time-varying...

The paper analyses whether business cycle fluctuations affect long-run growth. This hypothesis is tested using quarterly time series for the G7-countries. A vector-autoregressive model containing total factor productivity and a survey-based direct measure of the business cycle is estimated. In...