This paper re-investigates whether rational bubbles existed in the G-7 stock markets during the period of January 2000–June 2009 using the newly developed Fourier unit root test and a nonparametric rank test for cointegration. The empirical results from our Fourier unit test indicate that the...

In this study, we use the newly developed and refined panel stationary test with structural breaks to investigate the time-series properties of stock prices for the G-7 stock markets during the 2000–2007 period. The empirical results from numerous earlier panel-based unit root tests which do...