Output Persistence in Portugal

• Author(s): Caleiro, António
• Date: 2012
• Persistent ID: http://hdl.handle.net/10174/7169
• Origin: Repositório Científico da Universidade de Évora
• Subject(s): Output; Persistence; Portugal
• Document Type: Article
• Language: English

Description

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.