Journalartikel

Jahr der Veröffentlichung: 1999

Seiten: 155-164

Zeitschrift: Journal of Macroeconomics

Bandnummer: 21

Heftnummer: 1

ISSN: 0164-0704

DOI Link: https://doi.org/10.1016/S0164-0704(99)00096-8

Verlag: Elsevier

Abstract: 
The purpose of this paper is to provide additional evidence on the neoclassical stochastic growth model in the light of recent empirical findings which mainly reject its long-run implications. The panel-based unit root tests proposed by Levin and Lin (1993) are applied to investigate the time series properties of the log ratios of consumption and investment to output using annual data from 1970 to 1994 for eleven West German Lander. In accordance with the results of previous studies the empirical findings are generally not favorable for the neoclassical stochastic growth model.

Harvard-Zitierstil: Bohl, M. (1999) Testing the long-run implications of the neoclassical stochastic growth model: A panel-based unit root investigation for West German Lander, 1970-1994, Journal of Macroeconomics, 21(1), pp. 155-164. https://doi.org/10.1016/S0164-0704(99)00096-8

APA-Zitierstil: Bohl, M. (1999). Testing the long-run implications of the neoclassical stochastic growth model: A panel-based unit root investigation for West German Lander, 1970-1994. Journal of Macroeconomics. 21(1), 155-164. https://doi.org/10.1016/S0164-0704(99)00096-8