Are shocks to national income persistent? New global evidence
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.
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Volume (Year): 38 (2011)
Issue (Month): 2 (May)
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