<Para ID="Par1">This paper argues that typical applications of panel unit root tests should take possible nonstationarity in the volatility process of the innovations of the panel time series into account. Nonstationary volatility arises, for instance, when there are structural breaks in the innovation...</para>

Judging by its significant potential to affect the outcome of a game in one single action, the penalty kick is arguably the most important set piece in football. Scientific studies on how the ability to convert a penalty kick is distributed among professional football players are scarce. In this...