: variance bounds test, equity price bubbles test, and cointegration tests. The results from the variance bounds tests show that … West’s two-step test. There is no cointegration between stock prices and dividends from the results of both Engle …-Granger cointegration test and the bounds testing for cointegration. The divergence of stock prices from their fundamental value and no …

propose cointegration analyses. We demonstrate a clear impact from electrification on energy productivity in those broad …

patents growth and quarterly growth of GDP. Johansen’s procedure for cointegration showed that long run multipliers are …

-series techniques were used which include Cointegration, Vector Error Correction Model (VECM), Impulse Response Functions (IRF) and … Variance Decompositions (VDC). Cointegration analysis, along with the VECM, suggests that interest rates, crude oil prices and …

Johansen methodology is applied to estimate different VAR-based cointegration tests. The presence of a structural break due to … the subprime crisis is discussed as well. Two main results are reached: First, the cointegration test indicates the …

revealed the absence of cointegration between the DJIM index and three conventional indexes such as DAX, HangSeng, KL. This … cointegrated, which implies there exists long run theoretical relationship among the indices. Presence of cointegration indicates …

(1988) and Johansen and Juselius (1990) cointegration tests and VECM approach in investigating the dynamic linkages between …