persistence, which ends abruptly with a sudden change of tendency, giving its Auto-Correlation Function (ACF) an S-shape. Although …

using the sample autocorrelation function (ACF) to identify long-memory processes. While the ACF establishes the theoretical …

all basic assumptions underlying the theory model should be formulated as a set of testable hypotheses on the long …-run structure of a CVAR model, a so called 'theory consistent hypothetical scenario'. The advantage of such a scenario is that it … forces us to formulate all testable implications of the basic hypotheses underlying a theory model. We demonstrate that most …