Is real GDP stationary? Evidence from a panel unit root test with cross-sectional dependence and historical data

Nektarios Aslanidis and Stilianos Fountas

Working Papers from Universitat Rovira i Virgili, Department of Economics

Abstract: We use historical data that cover more than one century on real GDP for industrial countries and employ the Pesaran panel unit root test that allows for cross-sectional dependence to test for a unit root on real GDP. We find strong evidence against the unit root null. Our results are robust to the chosen group of countries and the sample period. Key words: real GDP stationarity, cross-sectional dependence, CIPS test. JEL Classification: C23, E32

Keywords: Producte Interior Brut; 33 - Economia (search for similar items in EconPapers)
Date: 2012
New Economics Papers: this item is included in nep-ets
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Citations: View citations in EconPapers (1)

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http://hdl.handle.net/2072/181404

Related works:
Journal Article: Is real GDP stationary? Evidence from a panel unit root test with cross-sectional dependence and historical data (2014)
Working Paper: Is real GDP stationary? Evidence from a panel unit root test with cross-sectional dependence and historical data (2012)
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