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Bootstrapping Unit Root Tests for MA(1) Processes
Thesis

Bootstrapping Unit Root Tests for MA(1) Processes

Hsin-Yu Ho
Masters, 國立清華大學, 統計學研究所
2006

Abstract

一階移動平均模型 拔靴法 單根檢定 最小絕對值法 MA(1) bootstrap test unit root test least absolute deviation (LAD) estimator
Four new bootstrap tests for testing unit root in the moving average model of order one (MA(1)) are proposed in this thesis. The four bootstrap tests are the test without restriction under Gaussian (i.e., the test which is based on the least square estimator and is not imposed the null hypothesis), the test with restriction under Gaussian (i.e., which is the test based on the least square estimator and is imposed the null hypothesis), the test without restriction under Laplace, (i.e., the test which is based on the least absolute deviation (LAD) estimator and is not imposed the null hypothesis), and last, the test with restriction under Laplace (i.e., the test which is based on the LAD estimator and is imposed the null hypothesis). Besides, we compare the performance among these tests in terms of the power and size under four different error distributions by simulation. It shows that under Gaussian estimation, the performance is no difference whether we impose the null hypothesis or not. However, under Laplace estimation, the test without restriction is more powerful than the test with restriction. It also shows that when the distribution of the error term has a heavy tail, the tests under Laplace outperform the tests under Gaussian.

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