Title page for etd-0521113-172236


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URN etd-0521113-172236
Author Meng-lun Wang
Author's Email Address No Public.
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Department Economics
Year 2012
Semester 2
Degree Master
Type of Document
Language zh-TW.Big5 Chinese
Title The Stationarity of the Consumption-income Ratio: Evidence from OECD Countries
Date of Defense 2013-06-19
Page Count 45
Keyword
  • structural break
  • panel unit root test
  • consumption-income ratio
  • Abstract There is no consistent conclusion about the stationarity of consumption-income ratio in the related empirical literatures. This paper applies BCIPS panel unit root test proposed by Lee and Wu (2012) that accounts for cross-sectional dependence and Fourier function to test the stationarity of 26 OECD countries’ consumption-income ratios over the period 1951-2010. This test modified the panel unit root tests of Im et al. (2003) and Pesaran (2007) and simplified the complexity by using dummy variables to capture structural breaks.
    The result shows IPS and CIPS tests accept the null hypothesis of unit root that the consumption-income ratio. However, after incorporating the possibility of structural breaks, the result is different, is stationarity. Shocks are likely to have transitory effects on the consumption-income ratios in 26 OECD countries.
    Advisory Committee
  • Ming-Jang Weng - chair
  • Tzu-Wei Wang - co-chair
  • Ching-Nun Lee  - advisor
  • Files
  • etd-0521113-172236.pdf
  • indicate access worldwide
    Date of Submission 2013-06-26

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