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Structural change and economic behaviour: The case of UK exports
Author(s) -
Hall Stephen
Publication year - 1995
Publication title -
economic outlook
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.1
H-Index - 8
eISSN - 1468-0319
pISSN - 0140-489X
DOI - 10.1111/j.1468-0319.1995.tb00051.x
Subject(s) - proxy (statistics) , economics , supply side , demand side , structural change , interpretation (philosophy) , structural break , international economics , econometrics , macroeconomics , machine learning , computer science , programming language
In this paper Stephen Hall, Giovanni Urga, and John Whitley apply a new econometric technique to date unknown breaks in UK export behaviour. They show how the evidence points to a structural shift in 1979. Although there is some support for a supply‐side interpretation in that there have been changes in the behaviour of prices, there has also been a shift in the underlying demand for UK exports. They also find that variables which proxy changes in the quality of UK exports, or other supply‐side influences, do not properly account for the observed structural break in UK export performance.