Emanuele Russo, Neil Foster-McGregor and Bart Verspagen

Author Archive | Emanuele Russo, Neil Foster-McGregor and Bart Verspagen

working_paper_2019_17_cover

Characterizing growth instability: new evidence on unit roots and structural breaks in long run time series

In this paper we investigate whether long run time series of income per capita are better described by a trend-stationary model with few structural changes or by unit root processes in which permanent stochastic shocks are responsible for the observed growth discontinuities. To this purpose, we develop a methodology to test the null of a […]

Continue Reading