DETERMINISTIC, STOCHASTIC, AND SEGMENTED TRENDS IN AGGREGATE OUTPUT: A CROSS-COUNTRY ANALYSIS

Yin‐Wong Cheung · Menzie Chinn

85 citations0/0 files storedOxford Economic Papers

No readable copy stored yet — this record is metadata only.

No open-access location is known for this record yet.

Literature note Cite in a project Citation map

Monetary Policy and Economic Impact Economic Theory and Policy Economic Growth and Productivity

Abstract

This paper examines whether output per capita in 126 countries is better described as trend or difference stationary, using appropriate finite-sample critical values. Depending upon whether one uses solely a test with a trend stationary null, or solely one with a difference stationary null, very different conclusions are obtained. This outcome suggests that it is useful to consider the tests complementary, rather than competing. We find that when a definite characterization of GDP can be made, it is very likely to indicate a difference stationary process. However, the likelihood of making definite conclusions does vary positively with both income level and data quality.

Paper brief

Loading…

Cite this work

Citation unavailable for this work.

BibTeX RIS CSL-JSON

No public copy is stored for this record, so only the metadata is cited.

Citations in this library

Citation map →

Stored only when both papers are in the corpus — 85 citations exist upstream.

References

1992Testing the null hypothesis of stationarity against the alternative of a unit root 1989The Great Crash, the Oil Price Shock, and the Unit Root Hypothesis 1991The Penn World Table (Mark 5): An Expanded Set of International Comparisons, 1950-1988 1983THE ESTIMATION AND APPLICATION OF LONG MEMORY TIME SERIES MODELS 1990Testing for a Unit Root in a Time Series With a Changing Mean 1990Recursive and Sequential Tests of the Unit Root and Trend Break Hypothesis: Theory and International Evidence 1994Testing for a Unit Root in Time Series With Pretest Data-Based Model Selection 1995Lag Order and Critical Values of the Augmented Dickey-Fuller Test

Cited by

2007Forecasting oil price movements: Exploiting the information in the futures market 1999Long-run purchasing power parity with short-run data: evidence with a null hypothesis of stationarity 2003Is Chinese provincial real GDP per capita nonstationary?2002Are Real GDP Levels Nonstationary? Evidence from Panel Data Tests 1996Further Investigation of the Uncertain Unit Root in GNP

Explore the map →

Papers that cite the same references — the relational fallback while embeddings are still backfilling.

Imported from OpenAlex (CC0) — nothing here is generated.