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The open objective of liberalization or globalization for the developed nations is the expansion of market or the creation of opportunities to produce and sale more and more goods and/or services beyond the domestic market which ultimately lead the nation in the right path of development. On the...
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In this paper we study the zero frequency spectral properties of fractionally cointegrated long memory processes and introduce a new frequency domain principal components estimator of the cointegration space and the factor loading matrix for the long memory factors. We find that for fractionally...
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