properties are used to define a global test for stationarity based on the DFT of a vector time series. It is shown that the test … statistic under the null of stationarity asymptotically has a chi-squared distribution, whereas under the alternative of local … stationarity asymptotically it has a noncentral chi-squared distribution. Further, if the time series is Gaussian and stationary …

moderation’. We find little evidence of trend stationarity and mixed evidence regarding inflation stationarity. Copyright …