Testing for Seasonal Fractional Roots in German Real Output

2004 ◽  
Vol 5 (3) ◽  
pp. 319-333 ◽  
Author(s):  
Guglielmo M. Caporale ◽  
Luis A. Gil-Alana
Keyword(s):  
Empirical Analysis ◽  
Money Demand ◽  
Unit Root ◽  
Unit Roots ◽  
Real Output ◽  
Alternative Approaches ◽  
Per Capita ◽  
The Empirical Analysis ◽  
Standard Tests ◽  
Zero Frequency

Abstract This paper examines the seasonal structure of German real GNP per capita by using a version of Robinson’s (1994) tests which is suitable in the context of seasonality. This method has several advantages over alternative approaches when testing for seasonal unit roots. First, unlike standard tests, which are nested in AR alternatives, it is embedded in fractional alternatives. Second, it allows testing at the zero frequency and at each of the seasonal frequencies separately. Third, it makes it possible to test for different orders of integration at each of the frequencies simultaneously. The empirical analysis suggests that the real output series may have a unit root at the zero frequency, and fractional rather than unit roots at the seasonal ones. This is in contrast to the findings reported by Lutkepohl et al. (1999) in their study on German money demand, and shows the importance of modelling the seasonal features of the data in alternative ways.

TESTING FOR SEASONAL UNIT ROOTS IN PERIODIC INTEGRATED AUTOREGRESSIVE PROCESSES

2008 ◽  
Vol 24 (4) ◽  
pp. 1093-1129 ◽  
Author(s):  
Tomas del Barrio Castro ◽  
Denise R. Osborn
Keyword(s):  
Unit Root ◽  
Unit Roots ◽  
Finite Sample ◽  
Test Statistic ◽  
Important Special Case ◽  
Frequency Unit ◽  
Annual Frequency ◽  
Fixed Order ◽  
Fuller Distribution ◽  
Zero Frequency

This paper examines the implications of applying the Hylleberg, Engle, Granger, and Yoo (1990, Journal of Econometrics 44, 215–238) (HEGY) seasonal root tests to a process that is periodically integrated. As an important special case, the random walk process is also considered, where the zero-frequency unit root t-statistic is shown to converge to the Dickey–Fuller distribution and all seasonal unit root statistics diverge. For periodically integrated processes and a sufficiently high order of augmentation, the HEGY t-statistics for unit roots at the zero and semiannual frequencies both converge to the same Dickey–Fuller distribution. Further, the HEGY joint test statistic for a unit root at the annual frequency and all joint test statistics across frequencies converge to the square of this distribution. Results are also derived for a fixed order of augmentation. Finite-sample Monte Carlo results indicate that, in practice, the zero-frequency HEGY statistic (with augmentation) captures the single unit root of the periodic integrated process, but there may be a high probability of incorrectly concluding that the process is seasonally integrated.

scholarly journals Consumption Function and the Empirical Analysis of the Relationship between Income and Consumption for Turkey

2014 ◽  
Author(s):  
Utku Altunöz
Keyword(s):  
Empirical Analysis ◽  
Unit Root ◽  
Econometric Analysis ◽  
Consumption Function ◽  
Short Term ◽  
Absolute Income ◽  
The Relationship ◽  
The Empirical Analysis

The relationship between income and consumption is one of the most important subjects of economics that became the subjects of many study. In this study, Absolute Income Theory of Keynes for Turkey is predicted by using the data in period 1987 – 2012 and the method of cointegration. Before the econometric analysis, the function of consumption, consumption theories, studies involving these theories and its critics were examined. After that, variables were examined the unit root situations. Two variables do not take action together and it is seen that they do not affect each other when the long term relations and the short term dynamics are examined.

scholarly journals Clusters in the Spread of the COVID-19 Pandemic: Evidence From the G20 Countries

2021 ◽  
Vol 8 ◽  
Author(s):  
Tian Meng
Keyword(s):  
Empirical Analysis ◽  
Capita Income ◽  
Policy Implications ◽  
Per Capita Income ◽  
Club Convergence ◽  
Daily Data ◽  
Per Capita ◽  
The Empirical Analysis

This study tests the validity of the club convergence clustering hypothesis in the G20 countries using four measures of the spread of the COVID-19 pandemic: total number of confirmed cases per million people, new cases per million people, total deaths per million people, and new deaths per million people. The empirical analysis is based on the daily data from March 1, 2020, to October 10, 2020. The results indicate three clusters for the per capita income, two clusters for total cases per million people, and new cases per million people. Besides, there are only one and two clusters for total deaths per million people and new deaths per million people. Potential policy implications are also discussed in detail.

Intra-Industry, Intra-Product, and Inter-Product Trade

2017 ◽  
Vol 17 (3) ◽  
pp. 20170024
Author(s):  
Michael Michaely ◽  
David Wajnryt
Keyword(s):  
Empirical Analysis ◽  
Capita Income ◽  
Manufacturing Sector ◽  
Trade Flows ◽  
Geographical Region ◽  
Per Capita Income ◽  
Half Century ◽  
Industry Trade ◽  
Per Capita ◽  
The Empirical Analysis

The study starts with clarifying the distinction between intra-product and inter-product trade as origins of intra-industry trade. The empirical analysis shows that over the last half century intra-industry trade has strongly intensified, though this trend became less pronounced during the last two decades. Intra-industry trade characterizes the trade flows of Europe distinctly more than of any other major geographical region. It is clearly related to a country’s level of per-capita income; to its size, as measured by aggregate income; to the share of the manufacturing sector in the country’s trade; and, most strongly, to the level of commodity diversification of a country’s trade.

scholarly journals Examining the interlinkages between regional infrastructure disparities, economic growth, and poverty: A case of Indian states

2015 ◽  
Vol 60 (205) ◽  
pp. 53-71 ◽  
Author(s):  
Varun Chotia ◽  
Nvm Rao
Keyword(s):  
Economic Growth ◽  
Principal Component Analysis ◽  
Empirical Analysis ◽  
Principal Component ◽  
Indian States ◽  
Comprehensive Index ◽  
Analysis Technique ◽  
Indian State ◽  
Per Capita ◽  
The Empirical Analysis

This paper investigates the interlinkages between regional infrastructure disparities, economic growth, and poverty in the 21 major Indian States. An overall comprehensive index of infrastructure, the Composite Infrastructure Index (CII), is calculated for each Indian state using the Principal Component Analysis technique. In order to analyse the regional disparities between states in terms of infrastructure, they are ranked based on the calculated CII. We extend our analysis by evaluating the inter-relationship between the Composite Infrastructure Index, Per Capita Net State Domestic Product (PCNSDP), and poverty. The empirical analysis also proves that composite infrastructural growth and economic growth go hand in hand.

Optimum Structure of the Banking Market: How Many Banks Are Necessary for Russia?

2006 ◽  
pp. 75-92 ◽  
Author(s):  
S. Moiseev
Keyword(s):  
Banking Sector ◽  
Optimum Structure ◽  
Population Number ◽  
The Third ◽  
Banking Market ◽  
The World ◽  
The Usa ◽  
Per Capita ◽  
The Empirical Analysis ◽  
Equilibrium Number

The number of classical banks in the world has reduced. In the majority of countries the number of banks does not exceed 200. The uniqueness of the Russian banking sector is that in this respect it takes the third place in the world after the USA and Germany. The paper reviews the conclusions of the economic theory about the optimum structure of the banking market. The empirical analysis shows that the number of banks in a country is influenced by the size of its territory, population number and GDP per capita. Our econometric estimate is that the equilibrium number of banks in Russia should be in a range of 180-220 units.

The Word Class Adjective in English Business Magazines Online

2018 ◽  
Vol 6 (2) ◽  
pp. 99-115
Author(s):  
Borislav Marušić ◽  
Sanda Katavić-Čaušić
Keyword(s):  
Empirical Study ◽  
Empirical Analysis ◽  
Word Formation ◽  
Word Class ◽  
Business English ◽  
Starting Point ◽  
Comprehensive Picture ◽  
English Syntax ◽  
The Empirical Analysis ◽  
Insight Into

Abstract The aim of this paper is to research the word class adjective in one sequence of the ESP: Business English, more precisely English business magazines online. It is an empirical study on the corpus taken from a variety of business magazines online. The empirical analysis allows a comprehensive insight into the word class adjective in this variety of Business English and makes its contribution to English syntax, semantics and word formation. The syntactic part analyses the adjective position in the sentence. The semantic part of the study identifies the most common adjectives that appear in English business magazines online. Most of the analysis is devoted to the word formation of the adjectives found in the corpus. The corpus is analysed in such a way that it enables its division into compounds, derivatives and conversions. The results obtained in this way will give a comprehensive picture of the word class adjective in this type of Business English and can act as a starting point for further research of the word class adjective.

ICT SMEs, Performance, Absorptive Capacity and Transformative Capacity

2019 ◽  
Vol 118 (3) ◽  
pp. 178-188
Author(s):  
Yeon-Sung Cho ◽  
Kyung-Il Khoe
Keyword(s):  
Firm Performance ◽  
Market Orientation ◽  
Empirical Analysis ◽  
Absorptive Capacity ◽  
Latent Variables ◽  
Equation Modeling ◽  
Transformative Capacity ◽  
The Impact ◽  
The Empirical Analysis ◽  
Innovative Capacity

This study intends to integrate the relationship of market orientation, innovative capacity and firm performance to Information and Communication Technology(ICT) SMEs. The purpose of this study is to identify the role of absorptive capacity and transformative capacity that affect the performance of ICT SMEs. Hypotheses were established between five latent variables. A total of six hypotheses were established including the moderated effects of absorptive capacity and transformative capacity. Of the data collected after the survey, 112 valid surveys were selected as the final sample, except for 17 questionnaires with high non - response and insincere response. The empirical analysis of this study used smartpls3.0, Partial Least Squares (PLS), a variance-based structural equation modeling. The empirical analysis of this study revealed that the impact of market orientation on innovative capacity was significant. Moreover, the innovative capacity had a positive effect on the performance of ICT SMEs. In addition, the absorptive activity had a positive moderated effect between the market orientation and the innovative capacity. On the other hand, the transformative capacity showed a positive moderated effect in relation to innovative capacity and firm performance. Our empirical results have demonstrated the importance of knowledge based capacity in the ICT SMEs.

Sign in / Sign up

Export Citation Format

Share Document