derived from economic theory or institutional constraints. Sometimes the restrictions are insufficient for identifying all …

under consideration. Using a cointegration approach, they find strong evidence pointing towards a long-run relationship … evidence of cointegration once the finite sample bias is taken into account. Moreover, there is only weak evidence of a …

This paper provides a review of the literature on unit roots and cointegration in panels where the time dimension (T … degrees, the dependence that might prevail across the different units in the panel. In the analysis of cointegration the … hypothesis testing and estimation problems are further complicated by the possibility of cross section cointegration which could …