Panel or grouped data are often used to allow for unobserved individual heterogeneity in econometric models via fixed … effects. In this paper, we discuss identification of a panel data model in which the unobserved heterogeneity both enters …

We develop a dynamic panel threshold model of capital structure to test the dynamic trade-off theory, allowing for …

, using both time series and panel data. A first battery of tests establishes that the observed differences are statistically …

stationary panel data model. In this contribution, we study the use of Hausman-type statistics based on the CCE estimator of …

function with breaks and apply panel unit root tests with breaks. The analysis reveals firstly that the periods of divergence …

In this paper, we consider a cointegrated panel data model with non-stationary common factors, which, because of its …

run, using two recent powerful panel data stationarity tests accounting for cross-sectional dependence and a structural …

Applications of panel unit root tests have become commonplace in empirical economics, yet there are ambiguities as how … best to interpret the test results. This note clarifies that rejection of the panel unit root hypothesis should be … rejection, and in applications where the time dimension of the panel is relatively large, it recommends the test outcome to be …