Johansen, Søren (contributor) - 2007
processes were inde-
pendent. This was later discussed by Granger and Newbold (1974), and Phillips
(1986) found the limit … correlations "nonsense correlations".
Granger and Newbold (1974) take up the point and note that
"It is very common to see reported … pointed out and analyzed by simulation by Yule in 1926, followed
up by Granger and Newbold (1974), and �nally solved by …