Empirical macroeconomists are increasingly using models (e.g. regressions or Vector Autoregressions) where the parameters vary over time. State space methods are frequently used to specify the evolution of parameters in such models. In any application, there are typically restrictions on the parameters that a researcher might be interested in. This motivates the question of how to calculate the...

In a majority of the recent writings on economic growth, the term 'growth' without further qualifiers is used to mean growth of per capita output, with a striking linguistic change relative to a couple of decades ago. This linguistic change reflects the exclusive concentration on the determinants of the growth of per capita output, which characterises modern Endogenous Growth Theory. The implic...

This appendix contains two sections. The first is a technical appendix which describes the prior and MCMC algorithm used to estimate our bivariate model of inflation and unemployment (labelled Bi-UC in the paper). It also provides additional estimation details about the other models used for comparison. The second is section contains a prior predictive analysis. Papers cited in this appendix ar...