987 resultados para 1-D stacks


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Comprend : Les lymphatiques... Étude spéciale des lymphatiques des différentes parties du corps ; Système nerveux... Nerfs crâniens ; Les organes des sens. Le tégument externe et ses dérivés ; Oreille interne...

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Collection : Le livre national ; n° 321-324

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Collection : Le livre national ; n° 321-324

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Collection : Collection de documents inédits sur l'histoire de France

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This paper discusses the role of deterministic components in the DGP and in the auxiliaryregression model which underlies the implementation of the Fractional Dickey-Fuller (FDF) test for I(1) against I(d) processes with d [0, 1). This is an important test in many economic applications because I(d) processess with d < 1 are mean-reverting although, when 0.5 = d < 1, like I(1) processes, they are nonstationary. We show how simple is the implementation of the FDF in these situations, and argue that it has better properties than LM tests. A simple testing strategy entailing only asymptotically normally distributedtests is also proposed. Finally, an empirical application is provided where the FDF test allowing for deterministic components is used to test for long-memory in the per capita GDP of several OECD countries, an issue that has important consequences to discriminate between growth theories, and on which there is some controversy.