Output Persistence in Portugal
International Journal of Finance, Insurance and Risk Management, Volume 2, Issue 3, 206, 2012
Abstract:
The measurement of output persistence in Portugal is the main goal of this paper. By the use of a non-parametric methodology, it is shown that the level of output in Portugal exhibits a relatively high degree of persistence. This result is essential from a (contractionary/expansionary) policy point of view as the magnitude and duration of policy effects depend upon the level of persistence in output.