real exchange rates in panel frameworks. One weakness of such tests, however, is that they fail to inform the researcher as … a small number of real exchange rates in a given panel may drive the results. In this paper we examine the PPP … when applied to a set of established panel-unit-root tests, allows the identification of the real exchange rates that are …

health care and national income. Using a panel threshold regression model, we derive country-specific and time …

A recent influential paper (O'Connell 1998) argues that panel data evidence in favor of purchasing power parity … innovations. We present evidence to the contrary. First, we modify two extant panel unit root panel unit root tests to eliminate …

basis of panel integration and cointegration tests for sulfur, Stern (2002, 2003) and Perman and Stern (1999, 2003) have …

long-run relationship exhibits an inverted-U pattern. On the basis of panel integration and cointegration tests for sulphur … tests of fractional panel integration and cointegration. As an example we use the controversial case of carbon dioxide …

-to-market ratio, and industry. A novel panel variance ratio test is proposed and employed to evaluate time-varying return …

This paper argues that typical applications of panel unit root tests should take possible nonstationarity in the … volatility process of the innovations of the panel time series into account. Nonstationarity volatility arises for instance when … enjoyed by many industrialized countries, known as the “Great Moderation”. It also proposes a new testing approach for panel …

and applies it to a panel of 20 OECD countries. The test yields divergent evidence with respect to physical and human …

. The analysis proposed is based on a panel data approach and the Arellano-Bond estimator for dynamic panels. We obtain …, and investment in infrastructures. We employ a generalised least squares AR(1) panel data model. The results provide …

clean the bias in the unpaired sample. In a second step, corrected unpaired observations are used jointly with panel data …