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Spuriousness of information criteria when selecting the number of breaks in stationary AR(p) process

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Author Info
Mohamed BOUTAHAR () (GREQAM and Faculté des Sciences, Université de la Méditerranée, France)
Jamel JOUINI () (F.S.E.G.N., E.S.S.A.I.T. and L.E.G.I., Université 7 Novembre de Carthage, Tunisie, GREQAM, Université de la Méditerranée, France)

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Abstract

This note proves analytically and shows by a Monte Carlo analysis the spuriousness that arises by some model selection criteria when selecting the number of breaks in stationary AR(p) process without changes for a regression with mean-shifts. This brings a theoretical support to the Perron's (1997) simulation results which indicate that this phenomenon occurs for an AR(1) process.

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File URL: http://economicsbulletin.vanderbilt.edu/2007/volume3/EB-07C20014A.pdf
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.

Volume (Year): 3 (2007)
Issue (Month): 38 ()
Pages: 1-11
Download reference. The following formats are available: HTML, plain text, BibTeX, RIS (EndNote), ReDIF
Handle: RePEc:ebl:ecbull:v:3:y:2007:i:38:p:1-11

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Postal: Economics Bulletin, Department of Economics, 414 Calhoun Hall, Vanderbilt University, Nashville TN 37235, USA
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Related research
Keywords: Model selection Stationary AR(p) process Structural change

Find related papers by JEL classification:
C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables

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This page was last updated on 2008-8-28.


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