In this paper we test for existence of cointegration between health expenditure and GDP using data from 19 OECD …-based inference and a new panel test for cointegration rank are presented. The empirical modelling is based on a bivariate vector …

1990s using recently developed econometric techniques for tests of cointegration. The role of investment, education and …

The panel cointegration test of Larsson et al (1998) test for the maximum number of cointegrating relations in a …

existing tests of no cointegration and parameter constancy. Smooth transition regressions are chosen to describe the … nonlinearity and the Johansen cointegration test and the Lin and Teräsvirta parameter constancy test are applied. It turns out that … power when dealing with unrestricted cointegration, that is, when no cointegrating vector is estimated and the cointegrated …

-integrating vectors. These cointegration vectors are both rejected for the sample period, indicating that the public sector will not be …

In cointegration analysis, when considering a hypothesis of the kind beta =(H_1*phi_1,...,H_n*phi_n) the estimator is a …

Applied cointegration analysis has much to gain from strong links with economic theory. For example, the current … important information about the economic structure can be found in the short run dynamics, which most cointegration studies …