TY  - JOUR
AU  - Ben-David,Dan
AU  - Lumsdaine,Robin L.
AU  - Papell,David H.
TI  - Unit Roots, Postwar Slowdowns and Long-Run Growth: Evidence from Two Structural Breaks
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 6397
PY  - 1998
Y2  - February 1998
UR  - http://www.nber.org/papers/w6397
L1  - http://www.nber.org/papers/w6397.pdf
N1  - Author contact info:
Dan Ben-David
Berglas School of Economics
Tel Aviv University
Ramat Aviv, Tel Aviv 69978
Israel
Tel: 972/3/640-9912
Fax: 972/3/640-9908
E-Mail: danib@post.tau.ac.il

Robin L. Lumsdaine
Kogod School of Business
American University
4400 Massachusetts Avenue NW
Washington, DC 20016
Tel: 202/885-1964
E-Mail: robin.lumsdaine@american.edu

David Papell
Department of Economics
University of Houston
Houston, TX  77204
E-Mail: dpapell@uh.edu
AB  - This paper provides evidence on the unit root hypothesis and long-term growth by allowing for two structural breaks.  We reject the unit root hypothesis for three-quarters of the countries   approximately 50% more rejections than in models that allow for only one break.  While about half of the countries exhibit slowdowns following their postwar breaks, the others have grown along paths that have become steeper over the past 120 years.  The majority of the countries, including most of the slowdown countries, exhibit faster growth after their second breaks than during the decades preceding their first breaks.
ER  -