... regressions and time-varying parameter regressions, as well as performing productivity change decompositions into within-sector and structural changes. Findings Panel regressions and time-varying-coefficient regressions suggest a significant positive influence of structural change on state-level growth...

... brought on this improved economic outcome. Design/methodology/approach A time‐varying parameter model for inflation is proposed which nests all the plausible explanations. The time variation in parameters is modelled as driftless random walks, and is estimated using the median unbiased estimator...