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Table 7.

Estimates of d for each subsample: White noise case.

RegionSubsampleNo regressorAn interceptA time trend
Asia Pacific and Russia 1st period 0.96 (0.90, 1.04) 0.98 (0.92, 1.06) 0.98 (0.92, 1.06) 
2nd period 0.99 (0.93, 1.07) 0.98 (0.91, 1.05) 0.98 (0.91, 1.05) 
3rd period 0.99 (0.93, 1.07) 1.00 (0.92, 1.09) 1.00 (0.92, 1.09) 
4rd period 0.99 (0.93, 1.07) 1.01 (0.93, 1.11) 1.01 (0.93, 1.11) 
5th period 0.99 (0.93, 1.06) 0.97 (0.90, 1.06) 0.97 (0.90, 1.06) 
6th period 0.98 (0.93, 1.05) 0.93 (0.87, 1.01) 0.93 (0.87, 1.01) 
Europe 1st period 0.98 (0.91, 1.05) 0.98 (0.91, 1.08) 0.98 (0.91, 1.08) 
2nd period 1.00 (0.94, 1.08) 0.97 (0.91, 1.05) 0.97 (0.91, 1.05) 
3rd period 1.01 (0.94, 1.08) 0.99 (0.93, 1.07) 0.99 (0.93, 1.07) 
4rd period 0.99 (0.92, 1.06) 0.95 (0.84, 1.07) 0.95 (0.84, 1.07) 
5th period 0.98 (0.93, 1.03) 0.96 (0.92, 1.02) 0.96 (0.92, 1.02) 
USA 1st period 0.98 (0.92, 1.04) 0.79 (0.74, 0.85) 0.78 (0.73, 0.85) 
2nd period 1.01 (0.95, 1.09) 0.94 (0.88, 1.01) 0.94 (0.88, 1.01) 
3rd period 1.01 (0.95, 1.08) 0.90 (0.84, 0.97) 0.90 (0.84, 0.97) 
4rd period 1.00 (0.94, 1.06) 0.97 (0.92, 1.04) 0.97 (0.92, 1.04) 
5th period 0.99 (0.92, 1.06) 0.94 (0.87, 1.04) 0.94 (0.87, 1.04) 
Latin America 1st period 0.95 (0.78, 1.19) 1.11 (0.95, 1.34) 1.11 (0.95, 1.34) 
2nd period 0.87 (0.66, 1.16) 0.83 (0.65, 1.18) 0.82 (0.61, 1.18) 
3rd period 0.96 (0.82, 1.16) 0.89 (0.70, 1.18) 0.89 (0.70, 1.18) 
4rd period 0.87 (0.59, 1.24) 0.98 (0.75, 1.28) 0.99 (0.78, 1.26) 
Global 1st period 0.98 (0.92, 1.07) 1.04 (0.96, 1.14) 1.04 (0.96, 1.14) 
2nd period 0.99 (0.93, 1.07) 0.98 (0.90, 1.08) 0.98 (0.90, 1.08) 
3rd period 0.99 (0.93, 1.07) 1.22 (1.04, 1.19) 1.11 (1.04, 1.20) 
4rd period 0.98 (0.92, 1.06) 1.03 (0.95, 1.11) 1.02 (0.95, 1.11) 
5th period 1.00 (0.95, 1.07) 1.04 (0.97, 1.12) 1.04 (0.97, 1.12) 
6th period 0.99 (0.92, 1.07) 0.99 (0.91, 1.08) 0.99 (0.91, 1.08) 
RegionSubsampleNo regressorAn interceptA time trend
Asia Pacific and Russia 1st period 0.96 (0.90, 1.04) 0.98 (0.92, 1.06) 0.98 (0.92, 1.06) 
2nd period 0.99 (0.93, 1.07) 0.98 (0.91, 1.05) 0.98 (0.91, 1.05) 
3rd period 0.99 (0.93, 1.07) 1.00 (0.92, 1.09) 1.00 (0.92, 1.09) 
4rd period 0.99 (0.93, 1.07) 1.01 (0.93, 1.11) 1.01 (0.93, 1.11) 
5th period 0.99 (0.93, 1.06) 0.97 (0.90, 1.06) 0.97 (0.90, 1.06) 
6th period 0.98 (0.93, 1.05) 0.93 (0.87, 1.01) 0.93 (0.87, 1.01) 
Europe 1st period 0.98 (0.91, 1.05) 0.98 (0.91, 1.08) 0.98 (0.91, 1.08) 
2nd period 1.00 (0.94, 1.08) 0.97 (0.91, 1.05) 0.97 (0.91, 1.05) 
3rd period 1.01 (0.94, 1.08) 0.99 (0.93, 1.07) 0.99 (0.93, 1.07) 
4rd period 0.99 (0.92, 1.06) 0.95 (0.84, 1.07) 0.95 (0.84, 1.07) 
5th period 0.98 (0.93, 1.03) 0.96 (0.92, 1.02) 0.96 (0.92, 1.02) 
USA 1st period 0.98 (0.92, 1.04) 0.79 (0.74, 0.85) 0.78 (0.73, 0.85) 
2nd period 1.01 (0.95, 1.09) 0.94 (0.88, 1.01) 0.94 (0.88, 1.01) 
3rd period 1.01 (0.95, 1.08) 0.90 (0.84, 0.97) 0.90 (0.84, 0.97) 
4rd period 1.00 (0.94, 1.06) 0.97 (0.92, 1.04) 0.97 (0.92, 1.04) 
5th period 0.99 (0.92, 1.06) 0.94 (0.87, 1.04) 0.94 (0.87, 1.04) 
Latin America 1st period 0.95 (0.78, 1.19) 1.11 (0.95, 1.34) 1.11 (0.95, 1.34) 
2nd period 0.87 (0.66, 1.16) 0.83 (0.65, 1.18) 0.82 (0.61, 1.18) 
3rd period 0.96 (0.82, 1.16) 0.89 (0.70, 1.18) 0.89 (0.70, 1.18) 
4rd period 0.87 (0.59, 1.24) 0.98 (0.75, 1.28) 0.99 (0.78, 1.26) 
Global 1st period 0.98 (0.92, 1.07) 1.04 (0.96, 1.14) 1.04 (0.96, 1.14) 
2nd period 0.99 (0.93, 1.07) 0.98 (0.90, 1.08) 0.98 (0.90, 1.08) 
3rd period 0.99 (0.93, 1.07) 1.22 (1.04, 1.19) 1.11 (1.04, 1.20) 
4rd period 0.98 (0.92, 1.06) 1.03 (0.95, 1.11) 1.02 (0.95, 1.11) 
5th period 1.00 (0.95, 1.07) 1.04 (0.97, 1.12) 1.04 (0.97, 1.12) 
6th period 0.99 (0.92, 1.07) 0.99 (0.91, 1.08) 0.99 (0.91, 1.08) 

The selected models in terms of the deterministic components are given in bold; 95% bands of the non-rejection values of d using Robinson (1994) are given in parentheses.

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