Abstract
In this note we present the outcomes of two unit root tests, which allow for the existence of a break in real GDP for 12 industrial countries, using data for the period 1870-1989. We conclude that in the majority of the countries real per capita GDP has no unit root and that both tests yield very similar break dates.
| Original language | English |
|---|---|
| Pages (from-to) | 357-362 |
| Number of pages | 6 |
| Journal | Oxford Economic Papers |
| Volume | 47 |
| Issue number | 2 |
| Publication status | Published - Apr-1995 |
Keywords
- RANDOM-WALK
- UNIT-ROOT
- GNP