Bruce E. Hansen
"The New Econometrics of Structural Change: Dating Changes in U.S. Labor Productivity"
Journal of Economic Perspectives, (2001), 15, 117-128.
Current Revision: May 2001
We have seen the emergence of three major innovations in the econometrics of structural change in the past fifteen years:
First Version: January 2001
(1) Tests for a structural break of unknown timing;
(2) Estimation of the timing of a structural break;
(3) Tests to distinguish unit roots from broken time trends.
These three innovations have dramatically altered the face of applied time series econometrics.
In this paper, we review these three innovations, and illustrate their application through an empirical assessment of U.S. labor productivity in the manufacturing/durables sector.
The copyright to this article is held by the the Journal of Economic Perspectives.
It may be downloaded, printed and reproduced only for personal or classroom use.
Absolutely no downloading or copying may be done for, or on behalf of, any for-profit commercial firm or other commercial purpose.
Download PDF file (1.8 MB)
Link to Programs and Data
Some of the above material is based upon work supported by the National Science Foundation under Grants No. SES-9022176, SES-9120576, SBR-9412339, and SBR-9807111.
Any opinions, findings, and conclusions, or recommendations expressed in this material are those of the author(s), and do not necessarily reflect the views of the NSF.
Page counting service generously supplied by Web Counter