Search Results
Consumption concentration may be up, adding slightly to economic fragility
Analysts have taken notice of the large share of total U.S. spending attributable to the very highest earners. The concerns are that the emergence of K-shaped growth—bifurcated activity at an elevated rate among high earners and much more restrained among most others—may put the U.S. in greater economic peril.
Working Paper
xtcipsunb: The CIPS Panel Unit Root Test for Unbalanced Panel Data
We develop and demonstrate the command xtcipsunb, which implements the cross-sectionally augmented panel unit root test (CIPS) from Pesaran (2007) and Pesaran, Smith and Yamagata (2013) for unbalanced panels. Several modifications relative to the existing Stata implementations of CIPS test are necessitated by the unbalanced panel data setting, including computing critical values through simulations for a given panel composition. We provide users the ability to specify a minimum number of cross-section units for the computation of cross-section averages, a minimum number of time periods for ...