Are Net Discount Rates Stationary?: Some Further Evidence Metadata

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Title

  • Main Title Are Net Discount Rates Stationary?: Some Further Evidence

Creator

  • Author: Haslag, Joseph H.
    Creator Type: Personal
    Creator Info: University of Missouri
  • Author: Nieswiadomy, Michael L.
    Creator Type: Personal
    Creator Info: University of North Texas
  • Author: Slottje, Daniel J.
    Creator Type: Personal
    Creator Info: Southern Methodist University

Publisher

  • Name: American Risk and Insurance Association
    Place of Publication: [Malvern, Pennsylvania]

Date

  • Creation: 1994-09

Language

  • English

Description

  • Content Description: Article discussing research suggesting that the net discount ration experienced a level shift in the mean between 1977 and 1981 and the resulting possible affects.
  • Physical Description: 6 p.

Subject

  • Keyword: net discount rates
  • Keyword: analyses

Source

  • Journal: Journal of Risk and Insurance, 61(3), American Risk and Insurance Association, September 1994, pp. 1-6

Citation

  • Publication Title: Journal of Risk and Insurance
  • Volume: 61
  • Issue: 3
  • Page Start: 513
  • Page End: 518
  • Peer Reviewed: True

Collection

  • Name: UNT Scholarly Works
    Code: UNTSW

Institution

  • Name: UNT College of Arts and Sciences
    Code: UNTCAS

Rights

  • Rights Access: public

Resource Type

  • Article

Format

  • Text

Identifier

  • Archival Resource Key: ark:/67531/metadc71791

Degree

  • Academic Department: Economics

Note

  • Display Note: Reprinted with permission from the Editor of the Journal of Risk and Insurance.
  • Display Note: Abstract: Gamber and Sorensen provide evidence suggesting that the net discount ratio experienced a level shift in the mean between 1977 and 1981. If such a shift occurred, the nonlinearity in the data shows up as a failure to reject the null hypothesis that a unit root is present; that is, the series is I(1). In this reply, evidence is presented - the Phillips-Perron test and a univariate version of the Stock-Watson q-test - suggesting that the net discount ratio is stationary. Hence, the mean is constant. In addition, if one extends the analysis to include the 1989 through 1993 period, the net discount ratio appears to be reverting.
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