Revisiting the uncertain unit root in GDP and CPI: Testing for non-linear trend reversion

Meredith Beechey () and Pär Österholm

Economics Letters, 2008, vol. 100, issue 2, 221-223

Abstract: We test for the presence of a unit root in U.S. GDP and CPI, allowing for non-linear trend reversion under the alternative hypothesis. In contrast to most previous results, we find evidence in favour of trend stationarity for both variables.

Date: 2008
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