We use the revised estimates of U.S. GNP constructed by Christina Romer (1989) to assess the time-series properties of U.S. output per capita over the past century. We reject at conventional significa
Cointegration is pivotal in analyzing long-run equilibrium relationships among economic variables. Traditional cointegration models have been effective in handling mixed-order integrated variables, bu
Accurate and reliable Gross Domestic Product (GDP) forecasting is indispensable for informed economic policymaking and risk management. Autocorrelation, a prevalent characteristic of macroeconomic tim
