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The asymptotic behaviour of the residual sum of squares in models with multiple break points

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Table 1. Critical values for test based on Fλ(λ)¯.
Figure 1. Power of Fλ(λ)¯ statistics for H0 : λ¯1 = 0.5 + κ. The true break is at λ01 = 0.5
Table 2. Estimated monetary policy rules.
Figure 2. 99% break fraction confdence set for monetary policy application. The confdence set shows the break fraction pairs (the only date of a frst break that does not reject the null whilefor which the statisticnull hypothesis subject to a 15 observatio

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