This paper argues that typical applications of panel unit root tests should take possible nonstationarity in the … volatility process of the innovations of the panel time series into account. Nonstationarity volatility arises for instance when … enjoyed by many industrialized countries, known as the "Great Moderation". It also proposes a new testing approach for panel …

This paper argues that typical applications of panel unit root tests should take possible nonstationarity in the … volatility process of the innovations of the panel time series into account. Nonstationarity volatility arises for instance when … enjoyed by many industrialized countries, known as the `Great Moderation.' It also proposes a new testing approach for panel …

The problems of how to evaluate and compare the quality of models formed from panel data are discussed. Using the … several out-of-sample parts of a panel data set, but un-used regions and time periods. Emphasis is on comparing models and two …

We revisit time-variation in the Phillips curve, applying new Bayesian panel methods with breakpoints to US and …

rate stationarity for 25 countries. For robustness purpose, we have also used panel unit root tests without and with …

. 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 …

countries our findings suggest the existence of a structural break. The panel results are also in favour of the RIRP …

offer a general apparatus for estimating parameters of panel-data specifications, though one must introduce a series of … Panel Study of Income Dynamics. …