This paper applies the recently developed maximum-likelihood-panel cointegration method of Larsson and Lyhagen (2007 … error terms. The findings using this new method are contrasted to those from the Pedroni (1995) cointegration tests and …

the introduction of the single currency. Panel unit root (Pesaran, 2007) and stationarity tests (Hadri and Kurozumi, 2008 …) that take into account cross-sectional dependence are also estimated. The results remain inconclusive as panel stationarity … tests fail to support PPP whereas panel unit root tests fail to reject PPP for the whole sample and for the period before …

The stationarity of OECD real exchange rates over the period 1972-2008 is tested using a panel of twenty six member … countries. The methodology followed stems from the need to meet several key concerns: (i) the identification of which panel … members are stationary; (ii) the presence of cross-sectional dependence among the countries in the panel; and (iii) the …

United States and the rest of the world are characterized by a vector error correction model (VECM) and that adding …

have mainly utilised panel-estimation methods, the tests of causal chains here are carried out in time-series settings …

predicted by estimates based upon a cross-country sample, when using the 2006 vintage of the World Development Indicators. The …

techniques for panel unit root testing and heterogeneous panel cointegration analysis are employed. The empirical results provide … China using the quarterly province-level panel data for the period 1999 q1 to 2007 q4. Recently developed econometric …. The variations across regions are detected and reasons for this fact are discussed. Based on the panel ECM, we show that …