For a time-continuous discrete-state Markov process as model for rating transitions, we study the time-stationarity by …

In this paper we deal with the problem of non-stationarity encountered in a lot of data sets, mainly in financial and …. Existence of non-stationarity involves spurious behaviors in estimated statistics as soon as we work with finite samples. We …

In this paper, we test for the stationarity of European Union budget deficits over the period 1971 to 2006, using a …-based bootstrap approach that allows us to test the null hypothesis of joint stationarity with endogenously determined structural … stationarity over the full sample period irrespective of us allowing for structural breaks. This conclusion also holds when …

This paper analyzes the stationarity of this ratio in the context of a Markov-switching model à la Hamilton (1989 …

driftless unit roots, unit roots with drift, long memory, trend and broken-trend stationarity. Indeed, spurious regressions have …

, unit roots with drift, long memory, trend and broken-trend stationarity, etc. The usual framework is Ordinary Least Squares …, whether the non-stationarity component is stochastic or deterministic. Finite sample evidence supports the asymptotic results. …