Trend‐stationary GNP: evidence from a new exact pointwise most powerful invariant unit root test
趋势平稳的 GNP：新精确逐点最强不变单位根检验的证据
Abstract There has been a substantial debate whether GNP has a unit root. However, statistical tests have had little success in distinguishing between unit‐root and trend‐reverting specifications because of poor statistical properties. This paper develops a new exact small‐sample, pointwise most powerful unit root test that is invariant to the unknown mean and scale of the time series tested, that generates exact small‐sample critical values, powers and p ‐values, that has…