The US real GNP is trend-stationary after all
dc.contributor.author | Omay, Tolga | |
dc.contributor.author | Gupta, Rangan | |
dc.contributor.author | Bonaccolto, Giovanni | |
dc.contributor.email | rangan.gupta@up.ac.za | en_ZA |
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 |