In this paper, a range of unit root and cointegration tests are applied to the time-series variables most commonly found in the various specifications of the Australian wage equation. The authors find a contradiction between the standard Dickey-Fuller tests and the results from Johansen estimation regarding the order of integration. The conclusion we reach using tests developed by P. Perron is that all the variables are trend stationary processes and that the cointegration framework is inappropriate in this case. Copyright 1993 by The Economic Society of Australia.
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Article provided by The Economic Society of Australia in its journal The Economic Record.
Volume (Year): 69 (1993) Issue (Month): 206 (September) Pages: 295-304 Download reference. The following formats are available: HTML
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