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Are shocks to national income persistent? New global evidence

Author

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  • Seema Narayan
  • Paresh Kumar Narayan

Abstract

Purpose - This paper aims to investigate the integrational properties of real GDP for 125 countries. Design/methodology/approach - The paper applies the Kwiatkowski 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.

Suggested Citation

  • Seema Narayan & Paresh Kumar Narayan, 2011. "Are shocks to national income persistent? New global evidence," Journal of Economic Studies, Emerald Group Publishing, vol. 38(2), pages 218-230, May.
  • Handle: RePEc:eme:jespps:v:38:y:2011:i:2:p:218-230
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    Cited by:

    1. Shi, Yanlin & Ho, Kin-Yip, 2015. "Modeling high-frequency volatility with three-state FIGARCH models," Economic Modelling, Elsevier, vol. 51(C), pages 473-483.
    2. Shi, Yanlin & Feng, Lingbing, 2016. "A discussion on the innovation distribution of the Markov regime-switching GARCH model," Economic Modelling, Elsevier, vol. 53(C), pages 278-288.

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