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Revisiting the uncertain unit root in GDP and CPI: Testing for non-linear trend reversion
Division of Monetary Affairs, Board of Governors of the Federal Reserve System, Washington.
Uppsala University, Disciplinary Domain of Humanities and Social Sciences, Faculty of Social Sciences, Department of Economics.
2008 (English)In: Economics Letters, ISSN 0165-1765, Vol. 100, no 2, 221-223 p.Article in journal (Refereed) Published
Abstract [en]

We test for the presence of a unit root in U.S. GDP and CPI, allowing for non-linear trend reversion under the alternative hypothesis. In contrast to most previous results, we find evidence in favour of trend stationarity for both variables.

Place, publisher, year, edition, pages
2008. Vol. 100, no 2, 221-223 p.
Keyword [en]
Unit-root test, Exponential smooth transition
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Research subject
URN: urn:nbn:se:uu:diva-108539DOI: 10.1016/j.econlet.2008.01.013ISI: 000257918400015OAI: oai:DiVA.org:uu-108539DiVA: diva2:236225
Available from: 2009-09-21 Created: 2009-09-21 Last updated: 2011-01-10Bibliographically approved

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