and economic growth. We make use of a Johansen-based panel cointegration methodology allowing for cross-country dependence …

fractional integration and cointegration methods. The univariate results indicate that the two series are highly persistent …, their orders of integration being around 2, whilst the cointegration tests (using both standard and fractional techniques …

countries is examined applying a fractional cointegration method which tests for the possible existence of a long …

seigniorage finance. This leads to an increase in inflation which, in turn, reduces capital accumulation and growth. At the … of the government's budget constraint, we find strong evidence to support these predictions under different estimation … strategies. Our results are robust to a wide range of sensitivity tests. -- Corruption ; seigniorage ; inflation ; growth. …

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 …