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of Turkey during the period 1963-2005 by using cointegration and causality tests. Kaldor's first law states that …, regardless of the specification and estimation techniques employed, suggest that the models can partly explain the developments …
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Nonlinear economic variables have been tested for many years with linear models, thus making them insufficient in providing an explanation for real life. As a result of the recently conducted studies, nonlinear time series analyses are observed to be more successful in forming especially the...
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