In this paper we propose a set of new panel tests to detect changes in persistence. The test statistics are used to test the null hypothesis of stationarity against the alternative of a change in persistence from I(0) to I(1), from I(1) to I(0) and in an unknown direction. The limiting...

In this paper we propose a set of new panel tests to detect changes in persistence. These statistics are used to test the null hypothesis of stationarity against the alternative of a change in persistence from I(0) to I(1) or viceversa. Alternative of unknown direction is also considered. The...

<font face="CMR9" size="1"><font face="CMR9" size="1">In this paper we propose new panel tests to detect changes in persistence. The test statisticsare used to test the null hypothesis of stationarity against the alternative of a change inpersistence from I(0) to I(1), from I(1) to I(0), and in an unknown direction. The limitingdistributions of the...</font></font>

In this paper, we propose new simple innovational outlier (IO) panel unit root tests with a break. A bootstrap method for dealing with cross-sectional dependence is provided and small sample properties of the bootstrap tests are investigated by Monte Carlo experiments. The panel innovational...

This paper focuses on the effects of global factors on the saving–investment relationship. We prove that, if investments and savings are affected by idiosyncratic and global components, they must be cointegrated to obtain reliable estimates of the saving-retention coefficient. When global...

We use the new growth theory framework and panel cointegration techniques to analyse the effect of international agricultural technological spillovers on total factor productivity growth for a sample of 47 countries during the period 1970--1992. The analysis shows that total factor productivity...

In the article we propose new panel cointegration tests which allow for structural breaks. We show that the panel tests have good size and power. We apply the test statistics to the analysis of the Feldstein-Horioka puzzle for a sample of 16 OCDE countries. After allowing for breaks, we find...

Food commodity prices fluctuations have important impacts on poverty and food insecurity across the world. Conventional models have not provided a complete picture of recent price spikes in agricultural commodity markets, while there is an urgent need for appropriate policy responses. Perhaps...

We review the constant discount rate present value model of farmland prices using non-stationary panel data analysis. We use panel unit root and cointegration analysis to test if the present value model holds for a sample of 31 U.S. States covering the period 1960-2000. Preliminary results...