Brunel University Research Archive(BURA) preserves and enables easy and open access to all
types of digital content. It showcases Brunel's research outputs.
Research contained within BURA is open access, although some publications may be subject
to publisher imposed embargoes. All awarded PhD theses are also archived on BURA.
Please use this identifier to cite or link to this item:
http://bura.brunel.ac.uk/handle/2438/31958Full metadata record
| DC Field | Value | Language |
|---|---|---|
| dc.contributor.author | Caporale, GM | - |
| dc.contributor.author | Gil-Alana, LA | - |
| dc.date.accessioned | 2025-09-09T16:54:04Z | - |
| dc.date.available | 2025-09-09T16:54:04Z | - |
| dc.date.issued | 2025-09-30 | - |
| dc.identifier | ORCiD: Guglielmo Maria Caporale https://orcid.org/0000-0002-0144-4135 | - |
| dc.identifier.citation | Caporale, G.M. and Gil-Alana, L.A. (2025) 'Persistence in real GDP: evidence from Europe and the US', Economics Bulletin, 45 (3), pp. 1376 - 1388. Available at: https://accessecon.com/Pubs/EB/2025/Volume45/EB-25-V45-I3-P117.pdf (accessed: 31 October 2025). | en_US |
| dc.identifier.uri | https://bura.brunel.ac.uk/handle/2438/31958 | - |
| dc.description | JEL classification: C22, E23. | en_US |
| dc.description.abstract | This note provides extensive evidence on the persistence properties of real GDP in 17 European countries and in the US over the period 1960-2023 using a fractional integration framework. The analysis suggests that in all cases shocks have permanent effects on the level of real GDP. This is consistent with the idea that it is the growth rate of output which is stationary and fluctuates around a long-run equilibrium level. Further, the degree of persistence varies across countries, with the US, Greece and Spain exhibiting the highest one and Sweden and Ireland the lowest. Policy makers should take such properties into account when formulating appropriate stabilisation policies. | en_US |
| dc.description.sponsorship | Prof. Luis A. Gil-Alana gratefully acknowledges financial support from the project from ‘Ministerium de Economía, Industria y Competitividad' (MINEIC), `Agencia Estatal de Investigación' (AEI) Spain and `Fondo Europeo de Desarrollo Regional' (FEDER), Grant D2023149516NB-I00 funded by MCIN/AEI/ 10.13039/501100011033. He also acknowledges support from an internal Project of the Universidad Francisco de Vitoria. | en_US |
| dc.format.extent | 1376 - 1388 | - |
| dc.format.medium | Electronic | - |
| dc.language.iso | en_US | en_US |
| dc.publisher | AccessEcon LLC on behalf of Economics Bulletin | en_US |
| dc.rights | Copyright © 2025 The Author(s). The Author retains the right to reuse or reproduce all work accepted for publication at the Economics Bulletin in any form he chooses subject to the sole condition that proper acknowledgment is made of its prior publication in Economics Bulletin. The Author hereby grants to the publishers of Economics Bulletin a non-exclusive perpetual right and license to copy, modify and distribute the attached submission in whatever form they may choose, and to authorize others to do some or all of the foregoing throughout the United States and the world (see: http://www.accessecon.com/Store/Economics%20Bulletin%20author%20guildlines-2012.pdf). | - |
| dc.rights.uri | https://www.accessecon.com/Store/Economics%20Bulletin%20author%20guildlines-2012.pdf | - |
| dc.source.uri | https://accessecon.com/Pubs/EB/2025/Volume45/EB-25-V45-I3-P117.pdf | - |
| dc.subject | real GDP | en_US |
| dc.subject | time series | en_US |
| dc.subject | persistence | en_US |
| dc.subject | fractional integration | en_US |
| dc.title | Persistence in real GDP: evidence from Europe and the US | en_US |
| dc.type | Article | en_US |
| dc.date.dateAccepted | 2025-09-02 | - |
| dc.relation.isPartOf | Economics Bulletin | - |
| pubs.issue | 3 | - |
| pubs.publication-status | Published | - |
| pubs.volume | 45 | - |
| dc.identifier.eissn | 1545-2921 | - |
| dcterms.dateAccepted | 2025-09-02 | - |
| dc.rights.holder | The Author(s) | - |
| Appears in Collections: | Dept of Economics and Finance Embargoed Research Papers | |
Files in This Item:
| File | Description | Size | Format | |
|---|---|---|---|---|
| FullText.pdf | Copyright © 2025 The Author(s). The Author retains the right to reuse or reproduce all work accepted for publication at the Economics Bulletin in any form he chooses subject to the sole condition that proper acknowledgment is made of its prior publication in Economics Bulletin. The Author hereby grants to the publishers of Economics Bulletin a non-exclusive perpetual right and license to copy, modify and distribute the attached submission in whatever form they may choose, and to authorize others to do some or all of the foregoing throughout the United States and the world (see: https://www.accessecon.com/Store/Economics%20Bulletin%20author%20guildlines-2012.pdf). | 225.64 kB | Adobe PDF | View/Open |
Items in BURA are protected by copyright, with all rights reserved, unless otherwise indicated.