Estimation of Structural Breaks in Large Panels with Cross-Sectional Dependence

2016 ◽  
Author(s):  
Jiti Gao ◽  
Guangming Pan ◽  
Yanrong Yang
Keyword(s):  
Structural Breaks ◽  
Cross Sectional ◽  
Large Panels ◽  
Cross Sectional Dependence

Extent Pursuit for Cross-Sectional Dependence in Large Panels

2019 ◽  
Author(s):  
Jiti Gao ◽  
Guangming Pan ◽  
Yanrong Yang ◽  
Bo Zhang
Keyword(s):  
Cross Sectional ◽  
Large Panels ◽  
Cross Sectional Dependence

IS THE REPORTS-BASED MEASURE OF UNCERTAINTY STATIONARY? EVIDENCE FROM A NEW PANEL RESIDUAL AUGMENTED LEAST SQUARES UNIT ROOT TEST

2021 ◽  
pp. 1-35
Author(s):  
SAKIRU ADEBOLA SOLARIN ◽  
CHRIS STEWART
Keyword(s):  
Least Squares ◽  
Unit Root ◽  
Structural Breaks ◽  
Negative Impact ◽  
Unit Root Test ◽  
Policy Implications ◽  
Unit Root Tests ◽  
Cross Sectional ◽  
Cross Sectional Dependence ◽  
Measure Of Uncertainty

To avoid spurious inferences, researchers analyzing the dimensions of uncertainty need to determine whether it is nonstationary. The degree of persistence of uncertainty also indicates the duration of the negative impact of an uncertainty shock on the economy. We use a new panel residual augmented least squares unit root test that allows for heterogeneous structural breaks in both intercepts and slopes of a series to determine the degree of persistence of the reports-based measure of uncertainty and whether it is nonstationary for 143 countries. This group of countries accounts for 99% of the world’s gross domestic product (GDP). To assess the robustness of our results, we also use recently developed univariate time-series unit root tests that allow for structural breaks and panel unit root tests that accommodate cross-sectional dependence and nonlinearity. Furthermore, an autoregressive wild bootstrap approach is utilized to examine the stationarity of the series. The results are virtually unambiguous in indicating that the reports-based measure of uncertainty is stationary in all countries considered. The results also suggest that uncertainty has a negative impact on the growth rate of GDP. The policy implications of the results are also discussed.

ENERGY SECURITY, RENEWABLE, NON-RENEWABLE ENERGY AND ECONOMIC GROWTH IN ASEAN ECONOMIES: NEW INSIGHTS

2020 ◽  
pp. 1-32
Author(s):  
RABINDRA NEPAL ◽  
HAMMED OLUWASEYI MUSIBAU
Keyword(s):  
Economic Growth ◽  
Renewable Energy ◽  
Energy Security ◽  
Structural Breaks ◽  
Correlation Effect ◽  
Cross Sectional ◽  
Effect Analysis ◽  
Long Run ◽  
Cross Sectional Dependence ◽  
Asean Countries

This study examines the linkages between energy security (ES), renewable and non-renewable energy on economic growth for ASEAN countries within a neo-classical growth framework. The econometric techniques account for cross-sectional dependence and structural breaks by undertaking a dynamic common correlation effect analysis unlike previous studies. The study finds a long-run relationship between ES, renewable, non-renewable energy and economic growth for ASEAN economies between 1980 and 2018. Our results also confirm a feedback relationship between renewable energy and economic growth in the ASEAN. Thus, the ASEAN governments must prioritize renewable energy funding and investments. The results are robust to different estimations and methods.

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