The U.S. Productivity Slowdown: A Peak through the Structural Break Window.
This paper provides a formal test of the null hypothesis of a unit root in the log-level of labor productivity against the alternative of linear trend stationarity with a one-time structural break in the level and slope of the trend at an a priori unknown date. Using some newly developed time series tests, the authors show that the log-level of productivity is more accurately modeled as following a deterministic trend with a regime shift rather than as a unit root process. Some implications of the results for detrending and for testing cointegration relationships between productivity and other variables are discussed. Copyright 1999 by Oxford University Press.
Year of publication: |
1999
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Authors: | Dolmas, Jim ; Raj, Baldev ; Slottje, Daniel J |
Published in: |
Economic Inquiry. - Western Economic Association International - WEAI. - Vol. 37.1999, 2, p. 226-41
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Publisher: |
Western Economic Association International - WEAI |
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