Yang, Ju-Ann; Chou, Shyan-Rong; Lee, Chen-Hsun - In: Economics Bulletin 31 (2011) 1, pp. 905-915
This paper compares the different dynamics of simple sum monetary aggregates and PLS indexes over the business cycle … monetary aggregates and GDP, to utilize the data in the most efficient manner via the nonparametric rank test of cointegration …