HAS INFLATION TARGETING BEEN SUCCESSFUL? EVIDENCE FROM UNIT ROOT TESTS

Inflation Revisited: New Evidence from Modified Unit Root Tests

We propose a simple modification to the general-to-specific lag-length selection method typically employed in a standard augmented Dickey-Fuller (ADF) test and apply it to examine the stationarity of OECD countries’ inflation rates. Instead of using the entire set of lags selected by the general-to-specific method, we suggest using only the lags that are statistically significant. Our Monte Car...

China’s Economic Growth: Evidence from Multiple-break Unit Root Tests

This paper performs multiple-break unit root tests on the data of China’s national and sectoral output and labour productivity, with finite-sample critical values bootstrapped through Monte Carlo simulations. We find strong evidence against the unit-root hypothesis in favour of the segmentedtrend-stationarity alternative. Based on breaking trend functions, the steady-state and transitional grow...

Purchasing Power Parity Hypothesis In OIC Countries: Evidence From Panel Unit Root Tests With Heterogeneous Structural Breaks

Process of Scholarship of Teaching Has Been Successful in Mashad University of Medial Sciences

Background: Medical Education has dramatically evolved in the past decades, and scholarly behaviors have gained popularity. In this study, scholarship-of-teaching activities from Mashhad University of Medical Sciences (MUMS) were evaluated for the first time in this country. Methods: Data related to all applicants who were nominated for promotion to associate and full professor positions were s...

Bootstrap Unit Root Tests

We consider the bootstrap unit root tests based on finite order autoregressive integrated models driven by iid innovations, with or without deterministic time trends. A general methodology is developed to approximate asymptotic distributions for the models driven by integrated time series, and used to obtain asymptotic expansions for the Dickey–Fuller unit root tests. The second-order terms in ...