Tendencias y cambios estructurales en la economia espanola. O hasta que punto es debil la presencia de raices unitarias

Josep Lluis Carrion Silvestre, Andreu Sanso () and Manuel Artís ()

No 38, Working Papers in Economics from Universitat de Barcelona. Espai de Recerca en Economia

Abstract: This paper analyses the presence of unit roots in some macroeconomic time series of the Spanish economy. Stochastic properties of the time series have been studied focusing on two aspects, both consistent with the possibility that there might be structural changes affecting the time series deterministic component. On the one hand, we carry out an integrability analysis through those tests statistics that allow to consider non-linear deterministic components. On the other hand, we have also applied stationarity tests with structural breaks. The combination of the results that are drawn by these two methodologies will let us to ensure how robust is the presence of unit roots in the selected macroeconomic time series. Finally, the use of the historical time series of Prados (1993) and the shorter Spanish macroeconomic time series that are employed in empirical research will show us the sensibility degree of our analysis to the time period.

JEL-codes: C22 C12 (search for similar items in EconPapers)
Date: 1998

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Persistent link: http://EconPapers.repec.org/RePEc:bar:bedcje:199838

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