This paper applies conventional panel unit root tests and panel stationarity tests with and without structural breaks to examine the time series properties of real Gross Domestic Product (GDP) per capita for a panel of eight Pacific Island economies. The panel unit root and panel stationarity tests without structural breaks suggest that for the panel as a whole real GDP per capita contains a un...

the prime objective of the study is to identify the long-run and short-run relationship between indian stock price viz., bse sensex (hereafter named as bse) and gold price (gold) in india. the daily closing price data were collected for the period of ten years ranging from 1st april 2004 to 31st march 2014 with 2490 observations. the study employed two models: model one used gold as dependent v...

We develop a set of nonparametric rank tests for non-stationary panels based on multivariate variance ratios which use untruncated kernels. As such, the tests do not require the choice of tuning parameters associated with bandwidth or lag length and also do not require choices with respect to numbers of common factors. The tests allow for unrestricted cross-sectional dependence and dynamic hete...

This paper aims to examine whether a bubble is present in the housing market of China. Thus, we use the housing price-to-income ratios and housing price-to-rent ratios of 35 cities from 1998 to 2010. The methods of the panel KSS unit root test with a Fourier function and the SPSM process are likewise used. The panel KSS unit root test with a Fourier function considers the problem of non-lineari...

â  â â â  â  abstract â  this paper examines convergence of real gdp per capita in the selected east asian countries and this relationship with selected middle east countries during the period 1950-2009. the reason behind this refers to the fact that east asia countries (including china, hong kong, singapore, malaysia, indonesia, thailand, japan and south korea) have been involved in achieving ...

This paper studies asymptotic and finite sample properties of statistics devised to test for the null of no cointegration in nonstationary pooled time series panels as both the cross section and time series dimensions grow large. The paper finds that for panels with homogenous long run parameters, the spurious regression coefficient estimates become consistent even under the null of no cointegr...

This study tests for the stationarity and sustainability of current account deficits for ten transition economies. For this purpose, a new test is employed that allows one to test for unit roots in heterogeneous panel datasets. While the benefits from creating a panel to overcome low test power are well known, this test also offers key advantages over existing alternative panel data unit root t...