Is the consumption-income ratio stationary? Evidence from panel unit root tests

Sarantis, Nick and Stewart, Chris (1999) Is the consumption-income ratio stationary? Evidence from panel unit root tests. Economics Letters, 64(3), pp. 309-314. ISSN (print) 0165-1765

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Abstract

This paper provides evidence on the stationarity of the consumption–income ratio from a panel of 20 OECD countries, using recently developed panel unit root tests which avoid the problem of low power associated with conventional unit root tests. Our findings suggest that the consumption–income ratios in the OECD countries are generated by a nonstationary stochastic process.

Item Type: Article
Research Area: Economics and econometrics
Faculty, School or Research Centre: Faculty of Arts and Social Sciences > School of Economics (until November 2012)
Depositing User: Chris Stewart
Date Deposited: 25 Jun 2013 10:17
Last Modified: 25 Jun 2013 10:17
URI: http://eprints.kingston.ac.uk/id/eprint/25529

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