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Financial Innovation

Table 8 Test for structural breaks in instrumental variable (chf_eur)

From: Price distortions and municipal bonds premiums: evidence from Switzerland

. estat sbsingle

. tsline chf_eur, xline (784)

Test for a structural break: Unknown break date

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Number of obs = 

1566

Full sample:

1

-

1566

Trimmed sample:

236

-

1332

Estimated break date:

784

  

Ho: No structural break

   

Test

Statistic

  

p value

swald

8513.7285

  

0.0000

Exogenous variables:

day

  

Coefficients included in test:

day _cons

  1. This table indicates that we reject the null hypothesis of no structural break at the 5% level with a high Wald statistic. The estimated break date in the currency price is the 784 observation from the starting 16jan2012. Source: Own calculations
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