The US real GNP is trend-stationary after all

Omay, Tolga; Gupta, Rangan; Bonaccolto, Giovanni

dc.contributor.author	Omay, Tolga
dc.contributor.author	Gupta, Rangan
dc.contributor.author	Bonaccolto, Giovanni
dc.date.accessioned	2017-11-30T12:21:34Z
dc.date.issued	2017
dc.description.abstract	This article applies the Fractional Frequency Flexible Fourier Form (FFFFF) Dickey–Fuller (DF)-type unit root test on the natural logarithm of US real GNP over the quarterly period of 1875:1–2015:2, to determine whether the same is trend- or difference-stationary. While standard and Integer Frequency Flexible Fourier Form DF-type test fails to reject the null of unit root, the relatively more powerful FFFFF DF-type test provides strong evidence of the real GNP as being trend-stationary, i.e. US output returns to a deterministic log-nonlinear trend in the long run.	en_ZA
dc.description.department	Economics	en_ZA
dc.description.embargo	2018-01-13
dc.description.librarian	hj2017	en_ZA
dc.description.uri	http://www.tandfonline.com/loi/rael20	en_ZA
dc.identifier.citation	Tolga Omay, Rangan Gupta & Giovanni Bonaccolto (2017) The US real GNP is trend-stationary after all, Applied Economics Letters, 24:8, 510-514, DOI: 10.1080/13504851.2016.1205719.	en_ZA
dc.identifier.issn	1350-4851 (print)
dc.identifier.issn	1466-4291 (online)
dc.identifier.other	10.1080/13504851.2016.1205719
dc.identifier.uri	http://hdl.handle.net/2263/63405
dc.language.iso	en	en_ZA
dc.publisher	Routledge	en_ZA
dc.rights	© 2016 Informa UK Limited, trading as Taylor & Francis Group. This is an electronic version of an article published in Applied Economics Letters, vol. 24, no. 8, pp. 510-514, 2017. doi : 10.1080/13504851.2016.1205719. Applied Economics Letters is available online at : http://www.tandfonline.com/loi/rael20 [18 months embargo]	en_ZA
dc.subject	Fractional frequency flexible Fourier form (FFFFF)	en_ZA
dc.subject	Structural break	en_ZA
dc.subject	Unit root	en_ZA
dc.subject	US real GNP	en_ZA
dc.subject	Gross national product (GNP)	en_ZA
dc.title	The US real GNP is trend-stationary after all	en_ZA
dc.type	Postprint Article	en_ZA