Unit roots in macroeconomic time series: theory, implications, and evidence

Gilberto Libanio

Textos para Discussão Cedeplar-UFMG from Cedeplar, Universidade Federal de Minas Gerais

Abstract: The theme of unit roots in macroeconomic time series has received a great amount of theoretical and applied research in the last two decades. This paper presents some of the main issues regarding unit root tests, explores some of the implications for macroeconomic theory and policy, and reviews the recent evidence on the presence of unit roots in GDP series for Latin American countries. We conclude that a consensual view on many of the aspects involved has not emerged from this literature.

Keywords: time series; unit roots; Latin America (search for similar items in EconPapers)
JEL-codes: C22 E32 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2004-02
New Economics Papers: this item is included in nep-ecm, nep-ets and nep-mac
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https://www.cedeplar.ufmg.br/pesquisas/td/TD%20228.pdf (application/pdf)

Related works:
Journal Article: Unit roots in macroeconomic time series: theory, implications, and evidence (2005)
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