In this paper, we consider and examine the performance of two-step LM unit root tests with trend-breaks. In the first step, we jointly test for the existence and location of breaks using a maximum F-test. In the second step, we utilize the identified breaks and test for a unit root. A...

This paper examines the convergence of carbon dioxide (CO2) emissions in OECD countries. Specifically, we are interested in examining to what extent the per capita emissions of different countries tend to draw closer over time. This issue is important since this question is associated with...

This paper illustrates the importance of accounting for cross-correlations among panel data sets in examining stationarity. Strazicich et al. (2004) utilized the LM unit root tests with two trend shifts to examine the income convergence among twenty-one OECD countries. We revisit their analysis...