A test for the cointegrating rank of a vector autoregressive (VAR) process with a possible shift and broken linear trend is proposed. The break point is assumed to be known. The setup is a VAR process for cointegrated variables. The tests are not likelihood ratio tests but the deterministic...

We show that the power of the KPSS-test against inte-gration, as measured by divergence rates of the test statistic underthe alternative, remains the same when residuals from an OLS-regression rather than true observations are used.[...]

The aim of this paper is to analyze the hypotheses of German dominanceand asymmetry in the European Monetary System (EMS).Weuse monthly data for British, Dutch, French, German, Italian, Spanishand US interest rates from January 1979 to the second half of 1997. Inparticular, we test the stability...

In 1996 the Potato Marketing Scheme was abolished ending forty years ofinstitutional control over the British potato market. This paper offers aretrospective analysis of the control mechanisms adopted and develops atheoretical model of supply response that reflects this policy environment....

Das vorliegende Papier verfolgt, den empirischen Zusammenhang zwischen den realen Aktienmarktniveaus von Deutschland und den USA zur Aktienmarktprognose zu verwenden ...

With this paper, we provide the first quantitative investigation of vertical price transmission inthe biodiesel supply chain in Germany with the focus on the developments during the foodcrisis and the impact of subsidized US biodiesel exports. With the strong promotion of theproduction and use...