Silvestre, Josep Lluis Carrion; Castro, Tomas del Barrio; … - Facultat d'Economia i Empresa, Universitat de Barcelona - 2003
This paper proposes a test statistic for the null hypothesis of panel stationarity that allows for the presence of multiple structural breaks. Two different specications are considered depending on the structural breaks affecting the individual effects and/or the time trend. The model is exible...