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 paper examines monthly OECD exchange rate data (1979-1997) using uni variate and panel data unit root tests. Some of these tests support the hypothesis of a unit root. But tests of cointegration ...