Cross-sectional distribution of per capita (log) GDP across the European Union regions from 1977 to 1996 is analysed. Kernel density estimates reveal a multimodal structure of the distribution during the 1970s and early 1980s, and a tendency towards unimodality since the mid-1980s. The...

This paper proposes and analyses the Kullback-Leibler information criterion (KLIC) as a unified statistical tool to evaluate, compare and combine density forecasts. Use of the KLIC is particularly attractive, as well as operationally convenient, given its equivalence with the widely used...

Feenstra and Hanson [NBER Working Paper No. 6052 (1997)] propose a procedure to correct the standard errors in a two-stage regression with generated dependent variables. Their method has subsequently been used in two-stage mandated wage models [Feenstra and Hanson, "Quarterly Journal of...

In this paper, we investigate a test for structural change in the long-run persistence in a univariate time series. Our model has a unit root with no structural change under the null hypothesis, while under the alternative it changes from a unit-root process to a stationary one or vice versa. We...

In this paper, we develop a set of new persistence change tests which are similar in spirit to those of Kim ["Journal of Econometrics" (2000) Vol. 95, pp. 97-116], Kim "et al." ["Journal of Econometrics" (2002) Vol. 109, pp. 389-392] and Busetti and Taylor ["Journal of Econometrics" (2004) Vol....