This paper examines the unit root properties of energy consumption per capita for 15 East Asia & Pacific countries employing the Lagrange Multiplier (LM) panel unit root test with one structural break for 1971-2007. When we apply the LM univariate test without break, we find a unit root in per...

This study examines the validity of the purchasing power parity (PPP) in Turkey for annual data from 1953 to 2009. While results from both the ADF unit root and the DF-GLS unit root test indicate mixed results, PPP holds for Turkey with the presence of structural breaks which are obtained by...

This paper re-examines the empirical validity of the hysteresis hypothesis in unemployment rates in terms of education level in 17 OECD countries. To this end for unbalanced panel, we employ Pesaran’s Cross Sectional Dependence (CD) and Cross-Sectionally Augmented ADF (CADF) tests. Our...

In this article it is investigated the convergence of health care expenditures per capita in OECD during the 1970–2005 period by applying Lima and Resende (2007) persistence methodology. Departures across countries were evaluated in terms of panel data unit root tests advanced by Im et al....

The purpose of this paper is to use panel unit root tests to see if Gibrat’s law holds in Turkey. Gibrat's Law establishes that firm growth is a random walk, it means that the probability of a given proportional change in size during a specified period is the same for all firms in a given...