Browsing by Subject "BREAK"
Now showing items 1-2 of 2
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(2019)Time-varying volatility and linear trends are common features of several macroeconomic time series. Recent articles have proposed panel unit root tests (PURTs) that are pivotal in the presence of volatility shifts, excluding linear trends, however. This article proposes a new PURT that works well for data that is both heteroskedastic and trending. Under the null hypothesis, the test statistic has a limiting Gaussian distribution. We derive the local asymptotic power to underpin the consistency of the test statistic. Simulation results reveal that the test performs well in small samples. As an empirical illustration, we examine the stationarity of energy use per capita in OECD economies. While the series are in general difference stationary, they could also be considered as trend stationary for specific time spans.
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(2017)Supervenient libertarianism maintains that indeterminism may exist at a supervening agency level, consistent with determinism at a subvening physical level. It seems as if this approach has the potential to break the longstanding deadlock in the free will debate, since it concedes to the traditional incompatibilist that agents can only do otherwise if they can do so in their actual circumstances, holding the past and the laws constant, while nonetheless arguing that this ability is compatible with physical determinism. However, we argue that supervenient libertarianism faces some serious problems, and that it fails to break us free from this deadlock within the free will debate.
