This note reconsiders the unit root properties of health care expenditure (HCE) and gross domestic product (GDP) for OECD countries. The time-series properties of this data set has been much discussed in the literature with contrasting results from the application of a range of test procedures....

F<sc>raser</sc> P., M<sc>ac</sc>D<sc>onald</sc> G. A. and M<sc>ullineux</sc> A. W. Regional monetary policy: an Australian perspective, <italic>Regional Studies</italic>. A structural vector autoregressive (SVAR) model for Australia is utilized to identify the domestic impacts of <italic>common</italic> monetary policy shocks on national and state business cycles...

This note considers the value of surface response equations which can be used to calculate critical values for a range of unit root and cointegration tests popular in applied economic research.

This paper uses a recently suggested test for unit roots in panels of time series data (Maddala and Wu, Oxford Bulletin of Economics and Statistics, 61, 631-52, 1999) to consider the Purchasing Power Parity hypothesis. The major innovation of this test is that it allows both the testing of unit...

What are the forces behind the increasing globalization of economic life? How does globalization affect the functioning of national economies? What difficulties confront government policymakers in dealing with the global economy? These issues are addressed in this volume by leading specialists....