New panel unit-root tests revolutionize data analysis for economic trends!
The article introduces a new test called xtbunitroot that can detect structural breaks in panel data. This test is like others by Zivot and Andrews and Lumsdaine and Papell but can handle one or two breaks in the data. It works even when the dates of the breaks are unknown and can deal with different types of errors and dependencies in the data. The test is powerful and can be used on panels of any size to find patterns in the data.