THE RELATIONSHIP BETWEEN OUTPUT VARIABILITY AND GROWTH: EVIDENCE FROM POST WAR UK DATA
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Abstract
The paper investigates the relationship between output variability and economic growth using a GARCH‐M model with industrial production in post‐war Great Britain. The data reveals a positive relationship between variability and growth rates.
Digital Object Identifier (DOI)
10.1111/j.1467-9485.1996.tb00675.x About DOI
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Scottish Journal Of Political Economy
