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. Estimation results show that this relationship is upward sloping. Nonparametric specification tests do not reject monotonicity …
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-stationarity of hours worked. In addition, taking these results together, there is no indication of cointegration among the individual …
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bivariate and multivariate tests for cointegration. While the topic has been analyzed in previous studies such as Gallo and … results from different cointegration methodologies and explicitly control for instability in cointegration relationships and … covering 20 years. In line with previous studies, the empirical results indicate several cointegration relationships between …
Persistent link: https://www.econbiz.de/10008652070
This paper presents an application of the Generalised Error Correction Model (GECM) for heterogeneous factor demands based on the quadratic cost function. Using data for 26 West German manufacturing industries over the period 1976-1995, it turns out that less general specifications such as the...
Persistent link: https://www.econbiz.de/10011444593
, bivariate and multivariate cointegration techniques are used to assess the degree of integration in four loans and two deposit …
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, a cointegration analysis of productivity, prices, real wages, employment, and the unemployment rate reveals two long run …
Persistent link: https://www.econbiz.de/10011446670
The components of GDP (residential investment, durables, nondurables, equipment and software, and business structures) display a pronounced lead-lag structure. We investigate the implications of this lead-lag structure for the cross-section of asset returns. We find that the leading GDP...
Persistent link: https://www.econbiz.de/10009745579