Macroeconomic theories of the 1980s faced accelerated depreciation when not sudden death. By contrast with econometrics and microeconomics and despite massive progress in access to data and the use of statistical softwares, macroeconomic theory appears not to be a cumulative science so far. When...

This study aims to investigate Granger causality between renewable energy consumption (REC) and economic growth (EG) for USA. To accomplish this objective and to add the stronger evidence to the controversial issue, the tests were done under a new framework that embeds wavelet analysis, a novel...

In this paper we study the relationship between output and inflation for India, Brazil, and South Africa using the EGARCH model. For India and South Africa, we find evidence for: (1) the Cukierman and Meltzer hypothesis that inflation volatility raises inflation; (2) the Friedman hypothesis that...

In this paper, we test whether oil price predicts economic growth for 28 developed and 17 developing countries. We use predictability tests that account for the key features of the data, namely, persistency, endogeneity, and heteroskedasticity. Our analysis considers a large number of countries,...

This paper explores the long-run effects of inflation on the dynamics of private sector bank credit and economic growth in Mexico over the period 1969-2011. With an ARDL-type model, the statistical results suggest that the availability of private sector bank credit in the economy exerts a...

This study provides country-specific empirical evidence on the optimal inflation-growth threshold in the ECOWAS (WAEMU and WAMZ) region from 1996-2022. Although there is large empirical literature on this subject, however, previous studies generally focused on exogenous approaches of determining...

This study investigates the relationship between inflation, inflation uncertainty and output in Tunisia using real and nominal data. GARCH-in-mean model with lagged variance equation is employed for the analysis. The result shows that inflation uncertainty has a positive and significant effect...

This paper explores the long-run effects of inflation on the dynamics of private sector bank credit and economic growth in Mexico over the period 1969 - 2011. With an ARDL-type model, the statistical results suggest that the availability of private sector bank credit in the economy exerts a...

It is widely believed that moderate and stable inflation rates promote the development process of a country, and hence economic growth. Moderate inflation supplements return to savers, enhances investment, and therefore, accelerates economic growth of the country. The main purpose of this study...

This paper proposes an empirical framework to estimate Okun's law which focuses on structural breaks and threshold nonlinearity. We use sequentially the Bai and Perron's (1998, 2003) structural break and threshold methodology to enable regime-dependent as well as threshold-dependent changes in...