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 …

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 …

international real business cycle (IRBC) models cannot reproduce this fact. We show that total factor productivity processes for the …

In this study, we analyse the sustainability of fiscal policy of EU member countries within the panel cointegration and … error-correction frameworks. Unlike the previous empirical papers in this area, we apply the test for panel cointegration … panel cointegration relationship. In a next step, we search for the politico-economic factors which explain the variation in …

developed tests and panel estimation techniques. We find that the stock of knowledge of a country, its R&D resources and the … innovation output as measured by patent applications. We first estimate a long-run cointegration relation using recently …

common specification, and common estimation methods, we argue that the contradictory findings can be explained by the fact …

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 …

, relative productivity, the trade balance and terms of trade. Countries with higher productivity, trade deficits or improved …

This paper argues that the empirical trade-growth relationship should be modelled using a dynamic panel data approach …