. For these purposes, panel unit root tests are employed to improve power against univariate counterparts. Since cross … section correlation is a distinct feature of the underlying panel data, results are based on various second generation panel …-stationarity of hours worked. In addition, taking these results together, there is no indication of cointegration among the individual …

model performs well, the estimation for the German stock index could be significantly improved by an extension which follows …

-linear least squares estimation procedures. Thereby we take advantage of the new World-Input-Output Database. This allows us for … the first time to use one consistent dataset for the estimation process and gives us the opportunity to derive … standard linear estimations using Kmenta approximations, non-linear estimation techniques perform significantly better …

explains the concept of panel unit roots and panel cointegration and introduces the underlying empirical approach. Next … employs a panel data technique is used. This estimator is suited for integrated annual macroeconomic panel data sets to …