cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for … structural breaks. We also apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee … policy was sustainable both for the EU15 panel set, and within sub-periods (1970-1991 and 1992-2006) …

cointegration analysis. Specifically, we use panel unit root tests of the first and second generation allowing in some cases for … structural breaks. We also apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee … policy was sustainable both for the EU15 panel set, and within subperiods (1970-1991 and 1992-2006) …

, we use panel unit root tests of the first and second generation allowing in some cases for structural breaks. We also … apply modern panel cointegration techniques developed by Pedroni (1999, 2004), generalized by Banerjee and Carrion … panel set, and within some sub-periods …