This study tests for parameter instability in the Spanish consumption function. To that end, a new test for time dependence of parameters is used and compared with other relevant tests. As opposed to other tests this new one is concerned with detecting parameter variation in frequency domain.

El test BDS de Brock, Dechert y Scheinkman es un test asintótico que proporciona una herramienta no paramétrica para contrastar la hipótesis nula de series i.i.d., con potencia, en teoría, sobre todas las alternativas restantes (lineales o no lineales, estocásticas o deterministas). Una...

The BDS statistic, rooted on the correlation integral, has been proven to be useful for different problems. But although the correlation integral is defined for any choice of delay time, the BDS statistic assumes delay time is one. As different studies have shown, an adequate choice of delay...

The issue of time delay has been controversial among the specialized literature. In fact, there exist some contrasted methods to choose it. It is the case that even though they are investigated for chaotic series, they fail to detect which series come from a deterministic and chaotic system. In...