This study employs cointegration technique to determine the co-movement of ten national stock markets indexes in Africa. Using monthly indexes spanning February, 1997 to October, 2011, results demonstrate less than full cointegrating vectors, which suggest African stock markets are not fully...

We find strong econometric support for a break in the relationship between perceived and HICP inflation in the euro area, triggered by the introduction of euro notes and coins in January 2002. The break is fairly homogeneous across individuals with different socio-economic characteristics. We...

We find strong econometric support for a break in the relationship between perceived and HICP inflation in the euro area, triggered by the introduction of euro notes and coins in January 2002. The break is fairly homogeneous across individuals with different socio-economic characteristics. We...

We find strong econometric support for a break in the relationship between perceived and HICP inflation in the euro area, triggered by the introduction of euro notes and coins in January 2002. The break is fairly homogeneous across individuals with different socio-economic characteristics. We...

This paper contributes to the literature on health expenditure studies by applying the non-linear unit root tests formulated recently by Kapetanios et al. (Journal of Econometrics 112(2):359–79, <CitationRef CitationID="CR9">2003</CitationRef>) to empirically test whether the U.S. real health expenditure time-series are non-stationary...</citationref>

Although the impact of structural breaks on testing for unit root has been studied extensively for univariate time-series, such impact on panel data unit root tests is still relatively unknown. A major issue is the choice of model in accommodating different types of break prior to testing for...

Economic sustainability is consequent to the sustainability of budget policies. By analyzing sustainability of budget policies, it is possible to ascertain if any change in fiscal and monetary policy is necessary or not. In this study, budget deficit sustainability was researched for the period...

In this paper we investigate the impact which starting values have upon the double differencing tests of Hasza and Fuller (1979, An. Stats.) and Sen and Dickey (1987, Jn.Bus.Ec.Stats.). We demonstrate that when bases on data which has been de-meaned, these tests are not exact similar to the...