A NOTE ON THE POOLING OF INDIVIDUAL PANIC UNIT ROOT TESTS
补全了Bai和Ng（2004）提出的PANIC框架中基于平均化构造合并面板单位根检验的渐近有效性证明，并通过模拟验证其有用性。
One of the most cited studies in recent years within the field of nonstationary panel data analysis is that of Bai and Ng (2004), in which the authors propose PANIC, a new framework for analyzing the nonstationarity of panels with idiosyncratic and common components. The problem is that the asymptotic validity of PANIC as a platform for constructing pooled panel unit root tests based on averaging is not fully proven. This paper provides the required results, whose usefulness is verified through simulations.