The Phillips unit root tests for polynomials of integrated processes

C-Tier
Journal: Economics Letters
Year: 2012
Volume: 114
Issue: 3
Pages: 299-303

Score contribution per author:

1.005 = (α=2.01 / 1 authors) × 0.5x C-tier

α: calibrated so average coauthorship-adjusted count equals average raw count

Abstract

In this paper, we derive the limiting distributions of the first order serial correlation coefficient and its t-statistic, which are the basis for the non-parametric unit root tests of Phillips (1987), for polynomials of integrated processes. The resulting limiting distributions depend upon nuisance parameters and in general the modification proposed by Phillips (1987), to achieve a nuisance parameter free limiting distribution, is not feasible for polynomials of integrated processes. For the special case of serially uncorrelated innovations, the limiting distributions are nuisance parameter free and are simulated. The distributions shift to the left with increasing variance for increasing polynomial orders.

Technical Details

RePEc Handle
repec:eee:ecolet:v:114:y:2012:i:3:p:299-303
Journal Field
General
Author Count
1
Added to Database
2026-01-29