Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/75529
Authors: 
Cheung, Yin-Wong
Pascual, Antonio I. Garcia
Year of Publication: 
2000
Series/Report no.: 
CESifo Working Paper 319
Abstract: 
This paper investigates output convergence for the G7 countries using multivariate time series techniques. We consider both the null hypotheses of no convergence and convergence. It is shown that inferences on output convergence depend on which one of the two null hypotheses is considered. Further, the no convergence results reported in previous studies using the time series definition may be attributed to the low power of the test procedures being used. Our results also highlight some potential problems on interpreting results from some typical multivariate unit root and stationarity tests.
Subjects: 
Output convergence
multivariate test
unit root test
stationarity test
Document Type: 
Working Paper

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