Deterministic, Stochastic, and Segmented Trends in Aggregate Output: A Cross-Country Analysis
Yin-Wong Cheung and
Menzie Chinn
Oxford Economic Papers, 1996, vol. 48, issue 1, 134-62
Abstract:
This paper examines whether output per capita in 126 countries is better described as trend or difference stationary, using appropriate finite-sample critical values. Depending upon whether one uses solely a test with a trend stationary null, or solely one with a difference stationary null, very different conclusions are obtained. This outcome suggests that it is useful to consider the tests complementary, rather than competing. The authors find that, when a definite characterization of GDP can be made, it is very likely to indicate a difference stationary process. However, the likelihood of making definite conclusions does vary positively with both income level and data quality. Copyright 1996 by Royal Economic Society.
Date: 1996
References: Add references at CitEc
Citations: View citations in EconPapers (47)
Downloads: (external link)
http://links.jstor.org/sici?sici=0030-7653%2819960 ... 0.CO%3B2-G&origin=bc full text (application/pdf)
Access to full text is restricted to JSTOR subscribers. See http://www.jstor.org for details.
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:oup:oxecpp:v:48:y:1996:i:1:p:134-62
Ordering information: This journal article can be ordered from
https://academic.oup.com/journals
Access Statistics for this article
Oxford Economic Papers is currently edited by James Forder and Francis J. Teal
More articles in Oxford Economic Papers from Oxford University Press Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK.
Bibliographic data for series maintained by Oxford University Press ().