Sometimes two variables Y and Z are each cointegrated with another variable X, but Y and Z do not appear to be cointegrated with each other. This article provides a possible explanation why this might happen.

This paper derives and estimates a barro-type reduced form equation for domestic real output from a simple structural model of an open developing economy in which markets clear continuously and expectations are rational. The form in which open economy variables appeared was explicitly derived...

This article examines the causal relationship between human capital and real income using data for China from 1960 to 1999. In the long run there is unidirectional Granger causality running from human capital to real income, while in the short run there is unidirectional Granger causality...

In 2010, Libya's red meat supply stood at about 77 thousand tonnes, about 25 percent was imported. Given the insufficient levels of domestic red meat production, the government mainly relies on imported red meat to fill the gap. The objective of this study is to examine factors affecting import...

We estimate electricity demand elasticities for eight subsectors of the German manufacturing industry using annual data from EU-KLEMS and the International Energy Agency for 1970–2007. The subsectoral approach allows to retain additional information otherwise blurred by aggregation and to...