Velazquez, R.; Noriega, A.E.; Soria, L.M. - Econometric Society - 2004
for multiple structural breaks in the long-run trend function of the variables. It is found that conclusions on neutrality … are sensitive to the number of breaks allowed. In order to interpret the evidence for structural breaks, we utilize a … true models are both a Trend Stationary (TS) model with up to four structural breaks, and a Difference-Stationary (DS …