This paper sets out a comprehensive framework to identify regional business cycles within Spain and analyses their stylised features and the degree of synchronisation both within them and between them and the Spanish economy. We show that the regional cycles are quite heterogeneous although they...

This paper examines the asymptotic and finite sample behaviour of the ADF and Phillips-Perron statistics under the presence of a break in the trend function. We prove that the break magnitude affects these two statistics in a similar way, drawing them closer the acceptance zone, the higher the...

This paper considers the behaviour of the Dickey-Fuller tests when the variable being studied is generated according to Perron's (1989) crash hypothesis. We show that these statistics tend towards the Dickey-Fuller distributions under the null hypothesis and diverge towards -[infinity] under the...

El objetivo del presente trabajo se centra en verificar el cumplimiento de la Ley de Precio Unico (LPU) en mercados separados espacialmente, utilizando el enfoque de cointegración. Se han considerado dos mercados: trigo y cebada, y cuatro zonas productoras-consumidoras de dichos cereales: Ebro,...