within a panel cointegration framework. Besides the total net issues, we distinguish between large, medium and small euro …

panel cointegration framework. Besides the traditional determinants of cash demand like transactions balances and …

We consider VAR models for variables exhibiting cointegration and common cyclical features. While the presence of … cointegration reduces the rank of the long-run multiplier matrix, other types of common features lead to rank reduction of the short …

investigate the relationships between separation in cointegration and separation in serial correlation common features. Loosely …