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Mean Reversion of Balance of Payments¡GEvidence from Sequential Trend Break Unit Root Tests

Author

Listed:
  • Jue-Shyan Wang

    (Department of Public Finance, National Chengchi University)

  • Mei-Yin Lin

    (Department of Economics, Shih Hsin University)

Abstract

We analyze the G7 countries data set of real balance of payments series. The unit root tests with an endogenously determined break date in the trend function proposed by Zivot and Andrews (1992) is employed to characterize the balance of payments series. The empirical results show that allowing for a break in the trend function could alter the outcome of the standard unit root tests for some series.

Suggested Citation

  • Jue-Shyan Wang & Mei-Yin Lin, 2008. "Mean Reversion of Balance of Payments¡GEvidence from Sequential Trend Break Unit Root Tests," Economics Bulletin, AccessEcon, vol. 6(4), pages 1-10.
    • Handle: RePEc:ebl:ecbull:eb-08f40005
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    More about this item

    Keywords

    Balance of payments;

    JEL classification:

    • F4 - International Economics - - Macroeconomic Aspects of International Trade and Finance
    • C2 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables

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