Unit-Root Tests and the Statistical Pitfalls of Seasonal Adjustment: The Case of U.S. Postwar Real Gross National Product
- 1 April 1990
- journal article
- research article
- Published by Taylor & Francis in Journal of Business & Economic Statistics
- Vol. 8 (2) , 145-152
- https://doi.org/10.1080/07350015.1990.10509785
Abstract
Unit-root tests applied to the postwar seasonally adjusted quarterly gross national product series strongly support the null hypothesis of the presence of a unit root in the data-generating process. Evidence reported here with seasonally unadjusted data is far less conclusive. It is explained why seasonal-adjustment procedures may alter the outcome of conventional tests.Keywords
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