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What is Unit Root

Chapter 5
Applied Econometric Analysis: Emerging Research and Opportunities
Its presence indicates that a time series is non-stationary.
Published in Chapter:
The Convergence Behind the Curtain: An Examination of Crime Rates in Pennsylvania Counties
Olivia A. Habacivch (Indiana University of Pennsylvania, USA), Ryan A. Redilla (Indiana University of Pennsylvania, USA), and James J. Jozefowicz (Indiana University of Pennsylvania, USA)
Copyright: © 2020 |Pages: 32
DOI: 10.4018/978-1-7998-1093-3.ch005
Abstract
This chapter extends applications of unconditional and conditional β-convergence and unconditional σ-convergence analysis to Part I crime rates in a panel data sample of Pennsylvania counties during the period 1990-2015. Temporal structural breaks at specific points in the business cycle during the time frame and spatial breakpoints between rural and urban counties in Pennsylvania are acknowledged in the analysis in order to avoid spurious inferences regarding convergence behavior. Unit-root testing is performed on measures of dispersion as well as directly on the underlying crime-rate series via panel-data tests for non-stationarity. The findings support the existence of both unconditional and conditional β-convergence in the pooled, urban, and rural samples during 1990-2015. Visual and statistical evidence reveals the presence of σ-convergence in the three samples across the time span as well. The comprehensive convergence analysis of appropriately disaggregated data performed in this study offers strong support for the predictions of modernization theory.
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Chapter 23
Trade-Off Between Defense and Development: A Time Series Study in India
A unit root (also called a unit root process) is a stochastic trend in a time series, sometimes called a “random walk with drift.” If a time series has a unit root, it shows a systematic pattern that is unpredictable. Unit-root problem is concerned with the existence of characteristic roots of a time series model on the unit circle.
Published in Chapter: Trade-Off Between Defense and Development: A Time Series Study in India; From: Handbook of Research on Military Expenditure on Economic and Political Resources
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