This article applies the panel stationarity test with a break proposed by Hadri and Rao (2008) to examine whether 14 … break models are allowed for in the panel. Our results suggest, overwhelmingly, that if we account for a structural break …

over all panel units and over time. The second, called C-statistics, focuses on the clustered EPA hypothesis where the EPA … holds jointly for a fixed number of clusters of panel units. The asymptotic properties of the proposed tests are evaluated …

divergence, we use panel data from 1992 to 1999 for 13 industrial countries and find that this divergence is driven in part by …

and applies it to a panel of 20 OECD countries. The test yields divergent evidence with respect to physical and human …-Lucas model - rather than to the human capital augmented Solow model. -- Exogenous growth ; endogenous growth ; panel Granger …

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 …

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 …

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 …

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 …

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