Studies on DGP of Chinese Household Consumption
If structural change lies in nonstationary time series, the traditional unit root tests will draw false statistical inference. The paper applies ADF test allowing for one structural break to test DGP of Chinese household consumption. We find the series can be more accurately characterized as a segmented trend stationary process around one structural break as opposed to a stochastic unit root process. The conclusion suggests that long-run economic growth strategy can change the growth path of household consumption and short-run stabilization policies deserve to apply.
Data Generation Process Unit Root Test Segmented Trend Stationary
ＷANG Yanmin ZHU Yuejuan
Economic Development Research Center, Anhui University of Finance and Trade, P.R.China, 233041 Office of the President, Anhui University of Finance and Trade, P.R.China, 233041
国际会议
2009 International Institute of Applied Statistics Studies(2009 国际应用统计学术研讨会)
青岛
英文
1-5
2009-07-25（万方平台首次上网日期，不代表论文的发表时间）