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- W138811570 abstract "Over the last decade much research has been carried out on unit roots and cointegration in panel-data with integrated time series, due to the availability of new datasets where the time series dimension and the cross-section dimension are of the same order. The analysis of this peculiar panel data set requires new techniques. In the panel unit root test framework, two generations of tests have been developed: a first generation (Levin, Lin and Chu test (2002), Im, Pesaran and Shin test (2003) and Fisher-type tests) whose main limit is the assumption of cross-sectional independence across units; a second generation of tests that rejects the cross-sectional independence hypothesis. Within this second generation of tests, two main approaches can be distinguished: the covariance restrictions approach, adopted notably by Chang (2002, 2004), and the factor structure approach, including contributions by Bai and Ng (2004a), Phillips and Sul (2003), Moon and Perron (2004a), Choi (2002) and Pesaran (2003), among others. JEL classification: C12, C22, C23" @default.
- W138811570 created "2016-06-24" @default.
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- W138811570 date "2006-01-01" @default.
- W138811570 modified "2023-10-02" @default.
- W138811570 title "Panel Unit Root Tests: A Review" @default.
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