forecast mean squared error criterion and certain parameter estimation results indicate that, in practice, a cointegration …We propose a seasonal cointegration model [SECM] for quarterly data which includes variables with different numbers of … forecast, is an ordinary VAR model, also in annual differences. -- Seasonal cointegration ; forecasting …

This paper examines aggregate savings in a general equilibrium model where infinitely lived households face volatile … where each household's income is constant. When income is stochastic, the equilibrium capital stock is always larger than … when income is constant. This additional capital accumulation has sometimes been interpreted as precautionary savings, but …