Josep Lluís Carrion‐i‐Silvestre
Biographic Data
| ID | 5919444 |
|---|---|
| NAME | Josep Lluís Carrion‐i‐Silvestre |
| GIVEN NAMES | Josep Lluís |
| FAMILY NAME | Carrion‐i‐Silvestre |
| SIGNATURE | SILVESTRE J L C I |
| AFFILIATIONS | Universitat de Barcelona |
| ORCID | 0000-0003-2733-7677 |
| VERIFIED | Yes |
| TOTAL WORKS | 10 |
| TOTAL CITATIONS | 6 |
| WORKS AS AUTHOR | 10 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2005 |
| LATEST PUBLICATION YEAR | 2025 |
| H-INDEX | 1 |
Current account determinants in a globalized world
This paper investigates the determinants of external imbalances for a group of 26 developed and emerging countries over the period 1972–2021. In addition to traditional factors, the model incorporates the impact of external imbalances in third countries. The empirical evidence highlights the importance of accounting for parameter instabilities in modeling external imbalances, with countries exhibiting heterogeneous behavior in terms of the estima…
Panel Data Cointegration Testing with Structural Instabilities
Spurious regression analysis in panel data when the time series are cross-section dependent is analyzed in the article.The set-up includes (possibly unknown) multiple structural breaks that can affect both the deterministic and the common factor components.We show that consistent estimation of the long-run average parameter is possible once cross-section dependence is controlled using cross-section averages in the spirit of Pesaran's common corre…
Detecting Multiple Level Shifts in Bounded Time Series
The article proposes a sequential statistical procedure to test for the presence of level shifts affecting bounded time series, regardless of their order of integration. The article shows that bounds are relevant for the statistic that assumes that the time series are integrated of order one. In contrast, they do not affect the limiting distribution of the statistic that is defined for time series that are integrated of order zero. The article pr…
Testing for multiple level shifts with an integrated or stationary noise component
The paper analyzes the detection and estimation of multiple level shifts regardless of the order of integration of the time series. We show that it is possible to extend the Bai‐Perron methodology (1998) to the I(1) and NI(1) nonstationary cases so that a unified framework to test for the presence of multiple level shifts in a robust way is designed. The finite sample performance of the proposed statistics is carried out, establishing a compariso…
External imbalances from a GVAR perspective
We study the drivers governing external disequilibria through a Global VAR (GVAR) analysis applied to a group of 24 countries during the period 1972–2017. The GVAR methodology is particularly well suited for our research question. First, it permits to measure the effects of both domestic and foreign country‐specific shocks. Second, it allows us to analyse the long‐run relationships and dynamics through generalised impulse response functions. Thir…
Nearly Unbiased Estimation of Autoregressive Models for Bounded Near‐Integrated Stochastic Processes
The paper investigates the estimation bias of autoregressive models for bounded near‐integrated stochastic processes and the performance of the standard procedures in the literature that aim to correct the estimation bias. In some cases, the bounded nature of the stochastic processes worsens the estimation bias effect. The paper extends two popular autoregressive estimation bias correction procedures to cover bounded stochastic processes. Monte C…
Fiscal Deficit Sustainability of the Spanish Regions
Carrion-i-Silvestre J. L. Fiscal deficit sustainability of the Spanish regions, Regional Studies. The fiscal deficit of the Spanish Autonomous Communities is investigated using non-stationary panel data analysis. The paper considers the two main approaches in the literature, first assessing whether there is a long-run relationship between the revenues and expenditures of the Autonomous Communities, and second focusing on the use of fiscal rules. …
Does Real Interest Rate Parity Hold for Oecd Countries? New Evidence Using Panel Stationarity Tests With Cross-Section Dependence and Structural Breaks
This paper tests for real interest rate parity (RIRP) among the 17 major Organisation for Economic Cooperation and Development countries over the period 1978:Q1–2006:Q1. The econometric methods applied consist of combining the use of panel data tests that are valid under cross-section dependence and the presence of multiple structural breaks. This feature is important because the misspecification errors due to not accounting for structural breaks…
Stochastic Convergence amongst Mexican States
Carrion-i-Silvestre J. L. and GERMAN-SOTO V. (2007) Stochastic convergence amongst Mexican states, Regional Studies 41, 531–541. The paper investigates the convergence process experienced by the Mexican states in the period 1940–2001. The analysis indicates that misleading conclusions can be obtained if the presence of structural breaks is not taken into account when testing for the presence of (stochastic) convergence. Thus, after allowing for s…
Breaking the panels
This paper proposes a test statistic for the null hypothesis of panel stationarity that allows for the presence of multiple structural breaks. Two different specifications are considered depending on the structural breaks affecting the individual effects and/or the time trend. The model is flexible enough to allow the number of breaks and their position to differ across individuals. The test is shown to have a standard normal limit distribution w…
Stochastic Convergence amongst Mexican States
Carrion-i-Silvestre J. L. and GERMAN-SOTO V. (2007) Stochastic convergence amongst Mexican states, Regional Studies 41, 531–541. The paper investigates the convergence process experienced by the Mexican states in the period 1940–2001. The analysis indicates that misleading conclusions can be obtained if the presence of structural breaks is not taken into account when testing for the presence of (stochastic) convergence. Thus, after allowing for s…
Breaking the panels
This paper proposes a test statistic for the null hypothesis of panel stationarity that allows for the presence of multiple structural breaks. Two different specifications are considered depending on the structural breaks affecting the individual effects and/or the time trend. The model is flexible enough to allow the number of breaks and their position to differ across individuals. The test is shown to have a standard normal limit distribution w…
Stochastic Convergence amongst Mexican States
Carrion-i-Silvestre J. L. and GERMAN-SOTO V. (2007) Stochastic convergence amongst Mexican states, Regional Studies 41, 531–541. The paper investigates the convergence process experienced by the Mexican states in the period 1940–2001. The analysis indicates that misleading conclusions can be obtained if the presence of structural breaks is not taken into account when testing for the presence of (stochastic) convergence. Thus, after allowing for s…
Does Real Interest Rate Parity Hold for Oecd Countries? New Evidence Using Panel Stationarity Tests With Cross-Section Dependence and Structural Breaks
This paper tests for real interest rate parity (RIRP) among the 17 major Organisation for Economic Cooperation and Development countries over the period 1978:Q1–2006:Q1. The econometric methods applied consist of combining the use of panel data tests that are valid under cross-section dependence and the presence of multiple structural breaks. This feature is important because the misspecification errors due to not accounting for structural breaks…
Fiscal Deficit Sustainability of the Spanish Regions
Carrion-i-Silvestre J. L. Fiscal deficit sustainability of the Spanish regions, Regional Studies. The fiscal deficit of the Spanish Autonomous Communities is investigated using non-stationary panel data analysis. The paper considers the two main approaches in the literature, first assessing whether there is a long-run relationship between the revenues and expenditures of the Autonomous Communities, and second focusing on the use of fiscal rules. …
External imbalances from a GVAR perspective
We study the drivers governing external disequilibria through a Global VAR (GVAR) analysis applied to a group of 24 countries during the period 1972–2017. The GVAR methodology is particularly well suited for our research question. First, it permits to measure the effects of both domestic and foreign country‐specific shocks. Second, it allows us to analyse the long‐run relationships and dynamics through generalised impulse response functions. Thir…
Nearly Unbiased Estimation of Autoregressive Models for Bounded Near‐Integrated Stochastic Processes
The paper investigates the estimation bias of autoregressive models for bounded near‐integrated stochastic processes and the performance of the standard procedures in the literature that aim to correct the estimation bias. In some cases, the bounded nature of the stochastic processes worsens the estimation bias effect. The paper extends two popular autoregressive estimation bias correction procedures to cover bounded stochastic processes. Monte C…
Testing for multiple level shifts with an integrated or stationary noise component
The paper analyzes the detection and estimation of multiple level shifts regardless of the order of integration of the time series. We show that it is possible to extend the Bai‐Perron methodology (1998) to the I(1) and NI(1) nonstationary cases so that a unified framework to test for the presence of multiple level shifts in a robust way is designed. The finite sample performance of the proposed statistics is carried out, establishing a compariso…
Detecting Multiple Level Shifts in Bounded Time Series
The article proposes a sequential statistical procedure to test for the presence of level shifts affecting bounded time series, regardless of their order of integration. The article shows that bounds are relevant for the statistic that assumes that the time series are integrated of order one. In contrast, they do not affect the limiting distribution of the statistic that is defined for time series that are integrated of order zero. The article pr…
Current account determinants in a globalized world
This paper investigates the determinants of external imbalances for a group of 26 developed and emerging countries over the period 1972–2021. In addition to traditional factors, the model incorporates the impact of external imbalances in third countries. The empirical evidence highlights the importance of accounting for parameter instabilities in modeling external imbalances, with countries exhibiting heterogeneous behavior in terms of the estima…
Panel Data Cointegration Testing with Structural Instabilities
Spurious regression analysis in panel data when the time series are cross-section dependent is analyzed in the article.The set-up includes (possibly unknown) multiple structural breaks that can affect both the deterministic and the common factor components.We show that consistent estimation of the long-run average parameter is possible once cross-section dependence is controlled using cross-section averages in the spirit of Pesaran's common corre…
Economics (10 works) · Econometrics (9 works) · Monetary Policy and Economic Impact (9 works) · Computer Science (5 works) · Macroeconomics (5 works) · Market Dynamics and Volatility (5 works) · Mathematics (5 works) · Global Financial Crisis and Policies (4 works) · Statistics (4 works) · Panel data (3 works)