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Are shocks to national income persistent? New global evidence


Author Info

  • Seema Narayan
  • Paresh Kumar Narayan


Purpose – This paper aims to investigate the integrational properties of real GDP for 125 countries. Design/methodology/approach – The paper applies the Kwiatkowski et al. univariate test and a KPSS-type univariate test that accounts for multiple structural breaks – a test procedure proposed by Carrion-i-Silvestre et al. The panel versions of the KPSS-type test, proposed by Carrion-i-Silvestre et al. with and without structural breaks, are also applied. Findings – The paper finds that, while univariate tests with and without structural breaks provide mixed results on persistence, the panel test suggests that shocks to national output are persistent. Originality/value – This is a multi-country study that focuses on both developed and developing countries and uses more recent data to provide new and comparable evidence on the persistence of output.

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Bibliographic Info

Article provided by Emerald Group Publishing in its journal Journal of Economic Studies.

Volume (Year): 38 (2011)
Issue (Month): 2 (May)
Pages: 218-230

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Handle: RePEc:eme:jespps:v:38:y:2011:i:2:p:218-230

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Related research

Keywords: Breaks; Developing countries; Gross domestic product;

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