Zaklan, Aleksandar; Abrell, Jan; Neumann, Anne - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 2011
This paper considers the question of whether changes in persistence have occurred during the long-run evolution of U.S. prices of the non-renewable energy resources crude oil, natural gas and bituminous coal. Our main contribution is to allow for a structural break when testing for a break in...