The nonstationarity of aggregate output: some additional international evidence

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Date: Feb. 1994
From: Journal of Money, Credit & Banking(Vol. 26, Issue 1)
Publisher: John Wiley & Sons, Inc.
Document Type: Article
Length: 3,496 words

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Abstract :

In this paper the stationarity of aggregate output is examined using the scaled variogram for a sample of twelve countries. It is argued that if the true data generating process of output is stationary around a deterministic trend with a change in mean and/or growth rate, the results of previous studies are biased. Once we allow for a one time exogenous 'shock', the conclusions are indeed less clear cut, and for some countries, even reversed. (Printed by permission of the publisher.)

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Gale Document Number: GALE|A14868712