How Robust Is the Finding That Innovations to Uk Output Are Persistent
Bibliographic Data
| ID | 10493296 |
|---|---|
| Authors | Terence C Mills (0000-0003-3757-9338, University of Hull, corresponding author) |
| Year | 1992 |
| Volume | 39 |
| Issue | 2 |
| Pages | 154-166 |
| Publication date | 1992-05-01 |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | Scottish Journal of Political Economy (JOURNAL) |
| Journal identifiers | ISSN: 0036-9292 • E-ISSN: 1467-9485 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/j.1467-9485.1992.tb00613.x |
| OpenAlex | W2111893528 |
| Language | EN |
| Citations received | 1 |
| References cited | 26 |
The finding that output innovations in the United Kingdom are persistent is shown to be robust to a variety of extensions and modifications to the unit root-persistence methodology. A one percent innovation to current output changes long-run forecasts of output by at least one percent and, although the possibility that output returns to a constant trend path cannot be completely ruled out, any such mean reversion would have to be extremely slow; the data are much more likely to be consistent with an output process having an important random walk component in which innovations have a strong tendency to persist. Copyright 1992 by Scottish Economic Society
Citation · Economics · Library science · Mathematical economics · Political science · Politics · Sociology · Computer Science · Fiscal Policies and Political Economy · Fiscal Policy and Economic Growth · Law · Monetary Policy and Economic Impact
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| Citations per year | 0.06 |
|---|---|
| Citation span | 2009 - 2009 (1) |
| Highly cited | No |