{"status":"ok","message-type":"work","message-version":"1.0.0","message":{"indexed":{"date-parts":[[2025,10,7]],"date-time":"2025-10-07T01:40:36Z","timestamp":1759801236706,"version":"build-2065373602"},"reference-count":12,"publisher":"Wiley","issue":"6","license":[{"start":{"date-parts":[[2025,6,9]],"date-time":"2025-06-09T00:00:00Z","timestamp":1749427200000},"content-version":"vor","delay-in-days":0,"URL":"http:\/\/onlinelibrary.wiley.com\/termsAndConditions#vor"}],"funder":[{"DOI":"10.13039\/501100001809","name":"National Natural Science Foundation of China","doi-asserted-by":"publisher","award":["72173140","71991474"],"award-info":[{"award-number":["72173140","71991474"]}],"id":[{"id":"10.13039\/501100001809","id-type":"DOI","asserted-by":"publisher"}]}],"content-domain":{"domain":["onlinelibrary.wiley.com"],"crossmark-restriction":true},"short-container-title":["J of Applied Econometrics"],"published-print":{"date-parts":[[2025,9]]},"abstract":"<jats:title>ABSTRACT<\/jats:title><jats:p>We examine the impact of correlated errors on findings regarding fluctuations in US GDP growth, which are primarily driven by the lower quantiles of the distribution as predicted by financial conditions. A proposed zero\u2010correlation test reveals the presence of correlated residuals in the quantile regression, introducing endogeneity and raising concerns about the validity of the previous analysis. In response, we extend the model by including two additional lags of predictors. The revised specification shows that financial conditions alone no longer significantly predict lower\u2010tail GDP growth, although their joint effect with lagged values remains significant. These results challenge earlier conclusions about the sensitivity of GDP growth to financial conditions.<\/jats:p>","DOI":"10.1002\/jae.3136","type":"journal-article","created":{"date-parts":[[2025,6,12]],"date-time":"2025-06-12T10:54:02Z","timestamp":1749725642000},"page":"715-721","update-policy":"https:\/\/doi.org\/10.1002\/crossmark_policy","source":"Crossref","is-referenced-by-count":0,"title":["Correlated Errors Challenge Vulnerable Growth"],"prefix":"10.1002","volume":"40","author":[{"given":"Wei","family":"Long","sequence":"first","affiliation":[{"name":"Department of Economics Tulane University  New Orleans Louisiana USA"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Liang","family":"Peng","sequence":"additional","affiliation":[{"name":"Maurice R. Greenberg School of Risk Science Georgia State University  Atlanta Georgia USA"}],"role":[{"role":"author","vocabulary":"crossref"}]},{"given":"Bingduo","family":"Yang","sequence":"additional","affiliation":[{"name":"School of Finance Guangdong University of Finance and Economics  Guangzhou China"}],"role":[{"role":"author","vocabulary":"crossref"}]}],"member":"311","published-online":{"date-parts":[[2025,6,9]]},"reference":[{"key":"e_1_2_7_2_1","doi-asserted-by":"publisher","DOI":"10.1257\/aer.20161923"},{"key":"e_1_2_7_3_1","doi-asserted-by":"publisher","DOI":"10.1016\/S0378-3758(02)00386-5"},{"key":"e_1_2_7_4_1","doi-asserted-by":"publisher","DOI":"10.1002\/jae.3005"},{"key":"e_1_2_7_5_1","doi-asserted-by":"publisher","DOI":"10.1093\/biomet\/asr052"},{"key":"e_1_2_7_6_1","doi-asserted-by":"publisher","DOI":"10.1111\/j.1468-0084.2011.00683.x"},{"key":"e_1_2_7_7_1","doi-asserted-by":"publisher","DOI":"10.1080\/01621459.2023.2257365"},{"key":"e_1_2_7_8_1","doi-asserted-by":"publisher","DOI":"10.1198\/016214502388618591"},{"key":"e_1_2_7_9_1","doi-asserted-by":"publisher","DOI":"10.1198\/106186005X27563"},{"key":"e_1_2_7_10_1","doi-asserted-by":"publisher","DOI":"10.1198\/016214504000001114"},{"key":"e_1_2_7_11_1","doi-asserted-by":"publisher","DOI":"10.1016\/j.jeconom.2015.04.003"},{"key":"e_1_2_7_12_1","doi-asserted-by":"publisher","DOI":"10.1093\/biomet\/81.2.341"},{"key":"e_1_2_7_13_1","doi-asserted-by":"publisher","DOI":"10.1007\/s00180-018-0811-1"}],"container-title":["Journal of Applied Econometrics"],"original-title":[],"language":"en","link":[{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/pdf\/10.1002\/jae.3136","content-type":"unspecified","content-version":"vor","intended-application":"similarity-checking"}],"deposited":{"date-parts":[[2025,10,7]],"date-time":"2025-10-07T01:12:41Z","timestamp":1759799561000},"score":1,"resource":{"primary":{"URL":"https:\/\/onlinelibrary.wiley.com\/doi\/10.1002\/jae.3136"}},"subtitle":[],"short-title":[],"issued":{"date-parts":[[2025,6,9]]},"references-count":12,"journal-issue":{"issue":"6","published-print":{"date-parts":[[2025,9]]}},"alternative-id":["10.1002\/jae.3136"],"URL":"https:\/\/doi.org\/10.1002\/jae.3136","archive":["Portico"],"relation":{},"ISSN":["0883-7252","1099-1255"],"issn-type":[{"type":"print","value":"0883-7252"},{"type":"electronic","value":"1099-1255"}],"subject":[],"published":{"date-parts":[[2025,6,9]]},"assertion":[{"value":"2024-04-27","order":0,"name":"received","label":"Received","group":{"name":"publication_history","label":"Publication History"}},{"value":"2025-04-14","order":2,"name":"accepted","label":"Accepted","group":{"name":"publication_history","label":"Publication History"}},{"value":"2025-06-09","order":3,"name":"published","label":"Published","group":{"name":"publication_history","label":"Publication History"}}]}}