The exact likelihood function for a prototypal job search model is analyzed. The optimality condition implied by the dynamic programming framework is fully imposed. Using the optimality condition allows identification of an offer arrival probability separately from an offer acceptance...

This paper presents a family of simple nonparametric unit root tests indexed by one parameter, <italic>d</italic>, and containing the Breitung (2002, <italic>Journal of Econometrics</italic> 108, 342–363) test as the special case <italic>d</italic> = 1. It is shown that (a) each member of the family with <italic>d</italic> 0 is consistent, (b) the asymptotic...

We discuss the moment condition for the fractional functional central limit theorem (FCLT) for partial sums of <italic>x</italic> = Δ⁻ <italic>u</italic>, where <inline-graphic>null</inline-graphic> is the fractional integration parameter and <italic>u</italic> is weakly dependent. The classical condition is existence of <italic>q</italic> ≥ 2 and <inline-graphic>null</inline-graphic> moments of the innovation sequence....