is fundamentally uncertain which covariates are relevant. Thus cointegration is often analyzed in partial systems … significant cointegration outcome using a bootstrapped rank test (Cavaliere, Rahbek, and Taylor, 2012) in the bivariate sub … reject the null of no cointegration, but by simulation we find that they display very low power, such that the (bivariate …

cointegration framework to examine whether Chinese interest rates are driven by the Fed's policy. In a second step, we estimate a … exert relatively autonomous monetary policy. -- Chinese monetary policy ; monetary independence ; cointegration …