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processes, implying that cointegration is a necessary condition both for consistent estimation of the parameters of the model … and compatibility between the model and the data. Tests find little support for cointegration and, together with an out …
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The relationship between inflation and real GDP growth is one of the most widely researched topics in macroeconomics. At the same time, it is certainly not an exaggeration to claim that this nexus also stands at the heart of monetary policy, given the fact that low inflation in combination with...
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