Are shocks to national income persistent? New global evidence

Narayan, Seema and Narayan, Paresh Kumar 2011, Are shocks to national income persistent? New global evidence, Journal of economic studies, vol. 38, no. 2, pp. 218-229.

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Title Are shocks to national income persistent? New global evidence
Author(s) Narayan, Seema
Narayan, Paresh Kumar
Journal name Journal of economic studies
Volume number 38
Issue number 2
Start page 218
End page 229
Total pages 12
Publisher Emerald Group Publishing
Place of publication Bingley, England
Publication date 2011
ISSN 0144-3585
Keyword(s) Breaks
Gross domestic product
Developing countries
Summary Purpose – This paper aims to investigate the integrational properties of real GDP for 125 countries
.
Design/methodology/approach – The paper applies the Kwiatkowski et al. univariate test and a KPSS-type univariate test that accounts for multiple structural breaks – a test procedure proposed by Carrion-i-Silvestre et al. The panel versions of the KPSS-type test, proposed by Carrion-i-Silvestre et al. with and without structural breaks, are also applied.

Findings – The paper finds that, while univariate tests with and without structural breaks provide mixed results on persistence, the panel test suggests that shocks to national output are persistent.

Originality/value – This is a multi-country study that focuses on both developed and developing countries and uses more recent data to provide new and comparable evidence on the persistence of output.
Language eng
Field of Research 150202 Financial Econometrics
Socio Economic Objective 910103 Economic Growth
HERDC Research category C1 Refereed article in a scholarly journal
Copyright notice ©2011, Emerald Group Publishing Limited
Persistent URL http://hdl.handle.net/10536/DRO/DU:30040249

Document type: Journal Article
Collections: Faculty of Business and Law
School of Accounting, Economics and Finance
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