Template-Type: ReDIF-Paper 1.0 Series: Tinbergen Institute Discussion Papers Creation-Date: 2002-01-22 Number: 02-002/4 Author-Name: H. Peter Boswijk Author-Email: h.p.boswijk@uva.nl Author-Workplace-Name: University of Amsterdam Author-Name: Philip Hans Franses Author-Email: franses@few.eur.nl Author-Workplace-Name: Erasmus University Rotterdam Title: How Large is Average Economic Growth? Evidence from a Robust Method Abstract: This paper puts forward a method to estimate average economic growth, andits associated confidence bounds, which does not require a formal decision onpotential unit root properties. The method is based on the analysis of eitherdifference-stationary or trend-stationary time series models, implementing the robustbootstrapping procedure advocated in Romano and Wolf (2001). Simulation evidence indicatesthe practical relevance of the method. It is illustrated on quarterly post-war USindustrial production. Classification-JEL: C13; C15; C22 Keywords: Growth; Unit root; Robust testing File-Url: https://papers.tinbergen.nl/02002.pdf File-Format: application/pdf File-Size: 176184 bytes Handle: RePEc:tin:wpaper:20020002