Caporale, Guglielmo Maria; Gil-Alana, Luis A. - 2006
. It is found that the null hypothesis of no cointegration cannot be rejected for Japan. In contrast, there is some … evidence of fractional cointegration for the remaining countries, i.e. Germany, Canada, the USA and the UK (where, however, the … appropriate policy framework for monetary authorities in the first three countries, but not in Japan or in the UK …