This paper applies the maximum likelihood technique to estimate the parameters of a money demand equation for Switzerland in which there are variable integrated of different orders and in particular of order greater than 1. The estimation method developed by the authors has been explained in...

The paper establishes a unified representation theorem for (co)integrated processes up to the second order which provides a compact and informative insight into the solution of VAR models with unit roots, and sheds light on the cointegration features of the engendered processes. The theorem is...

This paper is concerned with the estimation of cointegrated systems with integrated variables of order greater than 1. Unlike the case of I(1) variables, there are various possibilities of cointegration in the higher order case, which were conveniently formulated in a triangular representation...