cointegration linking interest rates and inflation, and stationarity of the real interest rate implying in turn homogeneity of the … a world wide perspective the (average) Fisher coefficient is less than unity. Applying panel unit root and cointegration … depend on economic conditions like the level of inflation or inflation uncertainty. Moreover, our results indicate that from …

this assumption. In this paper, we propose robust procedures for a residual-based test of cointegration when the data are … cointegration tests may be subject to substantial size distortions and standard OLS inference may lead to spurious results …

variables to the traditional test equation of the hypothesis. Using the Johansen cointegration method for the Finnish money … inflation. We also find that for a small open economy, like Finland, the effects from the corresponding markets of its main …