This paper examines the existence of stochastic and deterministic convergence of carbon dioxide (CO2) emissions in 23 countries over the period 1960-2002. For that purpose, we conduct unit root testing by employing the recently developed panel stationarity test of Carrion-i-Silvestre et al....

This paper addresses the question whether public finance reform can affect trend growth in the EU-15. Focusing on time series patterns, we investigate whether there have been persistent trends in economic growth and fiscal variables over the last 40 years. In addition, we estimate a...

This paper investigates the stochastic properties of long-term and short-term nominal interest rates for the OECD over the post-war era. For that purpose, we employ univariate unit root tests as well as panel unit root and stationarity tests that explicitly allow for cross-sectional dependence....

"This article tests the main unemployment paradigms for the unemployment rates of the states of the United States and the European Union-15 countries over the past three decades. For that purpose, we employ a state-of-the-art panel stationarity test, which allows for an unknown number of...

In this paper we investigate the existence of stochastic convergence of per capita real output in 19 OECD countries over 1870-2003. For that purpose, we employ panel techniques which incorporate an unknown number of structural breaks along with cross-dependence. Overall, our analysis provides...

This paper investigates the hypothesis of a unit root in inflation for 13 OECD countries over the period 1957-2005, taking into account cross-sectional dependence and multiple mean shifts. We conduct unit root testing with the more powerful unit root tests with cross-dependence proposed by Smith...