Caporale, Guglielmo Maria; Gil-Alaña, Luis A. - 2023
latter allowing for fractional orders of integration at both the long-run and the cyclical frequencies. The results are …. Further, the order of integration at the zero or long-run frequency is much higher than at the cyclical one. The former is in … integration of the cyclical structure implies that cycles have a periodicity of about 8 years, but it is almost insignificant in …