, and forecasting. The papers apply techniques related to the analysis of unit roots and cointegration methods. <p> The … cointegration relationship is found between consumption, income and net wealth, which is in line with the permanent income … the theory of cointegration between house and stock prices, which asserts that real after-tax risk-adjusted returns on …

-run and long-run restrictions that maintains the qualitative proper-ties of a monetary policy shock found in the established … fall by 1.5 per cent due to a monetary policy shock that raises the federal funds rate by ten basis points. A stock price … shock in-creasing stock prices by one per cent leads to an increase in the interest rate of five basis points. Stock price …