Economics, Econometrics and Finance
8 years ago

New test reveals many series show no trend over time.

Journal of Econometrics
Testing the null hypothesis of stationarity against the alternative of a unit root
Denis Kwiatkowski, Peter C.B. Phillips, Peter Schmidt, Yongcheol Shin

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The article tests if a series is stable or has a trend. They use a test to see if the series has a random walk with no variance. The test is applied to real data, and for many series, the trend stability cannot be proven.