Pascalau, Razvan - In: Applied Economics Letters 17 (2010) 6, pp. 565-570
This article reconsiders the nature of the trends (i.e. deterministic or stochastic) of the Nelson-Plosser macroeconomic time series. For this purpose, the article employs two new tests that display robustness to structural breaks of unknown forms, irrespective of the date and/or location of the...