Estimation and inference with near unit roots

HIGHLIGHTS

  • who: Econometric Theory and colleagues from the Yale University have published the Article: ESTIMATION AND INFERENCE WITH NEAR UNIT ROOTS, in the Journal: (JOURNAL) of July/31,/2012
  • what: The alternative hypothesis in this work allows for MI alternatives in addition to UR and local-to-unity alternatives (as in the PSY test), again with quantification provided by the magnitude of the estimated rate coefficient u03b3u0302n when u03b8u0302n and amp;lt; 1. This paper shows that valid inference about the character of nonstationary time series in a wider class than the UR and LUR class . . .

     

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