Growth and volatility in the European Union: a linear or a non-parametric approach?
AbstractThe paper reports an investigation of the relationship between business-cycle volatility and economic growth in the European Union before (EU-15) and after broadening (EU-25) using cross-sectional models. Results based on the superiority of the pseudo-likelihood ratio test as a more reliable tool for testing the robustness of the model used, indicate that the above relationship is linear only in the case of EU-15.
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Bibliographic InfoArticle provided by Taylor and Francis Journals in its journal Applied Economics Letters.
Volume (Year): 14 (2007)
Issue (Month): 1 ()
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Web page: http://www.tandf.co.uk/journals/routledge/13504851.html
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