Cerrato, M. , De Peretti, C. and Stewart, C. (2013) Is the consumption-income ratio stationary? Evidence from linear and non-linear panel unit root tests for OECD and non-OECD countries. Manchester School, 81(1), pp. 102-120. (doi: 10.1111/j.1467-9957.2011.02272.x)
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Abstract
This paper applies recently developed heterogeneous non-linear and linear panel unit root tests that account for cross-sectional dependence to 24 OECD and 33 non-OECD countries' consumption–income ratios over the period 1951–2003. We apply a recently developed methodology that facilitates the use of panel tests to identify which individual cross-sectional units are stationary and which are non-stationary. We find that the majority (78 per cent) of the series are non-stationary with slightly fewer non-OECD countries' (74 per cent) series exhibiting a unit root than OECD countries (83 per cent).
Item Type: | Articles |
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Status: | Published |
Refereed: | Yes |
Glasgow Author(s) Enlighten ID: | Cerrato, Professor Mario |
Authors: | Cerrato, M., De Peretti, C., and Stewart, C. |
College/School: | College of Social Sciences > Adam Smith Business School > Economics |
Journal Name: | Manchester School |
Publisher: | Wiley-Blackwell Publishing Ltd. |
ISSN: | 1463-6786 |
Published Online: | 26 February 2012 |
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