PANEL UNIT ROOT TESTS - POTENTIAL AND LIMITATIONS (Panelowe testy stacjonarnosci - mozliwosci i ograniczenia)
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The paper aims at presenting panel unit root tests and pointing out the main similarities and differences among them. Shortfalls and potentials of PURT are discussed in a paper. Theoretical side is illustrated with the recent applications of PURT for evaluation and interpretation of economic hypothesis i.e. PPP and Feldstein-Horioka dilemma. Five PURT are considered, namely Levin, Lin (LL, 1992, 1993), Im, Pesaran and Shin (IPS, 1997), Harris and Tzavalis (HT,1999), Maddala and Wu (MW, 1999) and Hadri (H, 2000).
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