@techreport{Lyhagen2000standard,
abstract = {In this paper we show the consequences of applying a panel unit root test when testing for a purchasing power parity relationship. The distribution of the tests investigated, including the IPS test of Im et al (1997), are influenced by a common stochastic trend which is usually not accounted for. The result is that the size tends to one with the number of cross-sections.},
address = {Stockholm},
author = {Johan Lyhagen},
copyright = {http://www.econstor.eu/dspace/Nutzungsbedingungen},
keywords = {C12; C22; C23; 330; Dynamic panels; Monte Carlo; Purchasing power parity; Kaufkraftparit\"{a}t; Unit Root Test; Theorie},
language = {eng},
number = {413},
publisher = {Ekonomiska Forskningsinst.},
title = {Why not use standard panel unit root test for testing PPP},
type = {SSE/EFI Working Paper Series in Economics and Finance},
url = {http://hdl.handle.net/10419/56226},
year = {2000}
}
