One of the most well-known facts about unit root testing in time series is that the Dickey–Fuller (DF) test based on ordinary least squares (OLS) demeaned data suffers from low power, and that the use ...

This is a preview. Log in through your library . Abstract One of the most cited studies in recent years within the field of nonstationary panel data analysis is that of Bai and Ng (2004), in which the ...