Lopez, Claude; Murray, Christian J.; Papell, David H. - 2008
Using median-unbiased estimation, recent research has questioned the validity of Rogoff's "remarkable consensus" of 3 … the resulting unit root test has low power. We extend median-unbiased estimation to the DF-GLS regression of Elliott …, Rothenberg, and Stock (1996). We find that median-unbiased estimation based on this regression has the potential to tighten …