Ewing, Bradley; Thompson, Mark - In: Applied Economics Letters 14 (2007) 13, pp. 935-938
This article applies the Enders and Granger (1998) unit root test against the stationary alternative with asymmetric adjustment to after-tax corporate profits. Both the standard Dickey-Fuller (1981) model and the momentum threshold autoregressive (MTAR) model reject the null hypothesis of a unit...