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This paper investigates how fractional cointegration affects the common maximum likelihood cointegration procedure. It … is shown that the likelihood ratio test of no cointegration has considerable power against fractional alternatives. In … long-run relation under fractional cointegration. This suggests that the standard likelihood approach should be used with …
Persistent link: https://www.econbiz.de/10005190901
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The compensation hypothesis predicts a positive causation from international economic openness to the size of the public sector, as governments step in to perform a risk mitigating role to counterbalance the increasing exposure to external risk and the economic dislocations caused by growing...
Persistent link: https://www.econbiz.de/10010670287
important determinant of long-run movements in the real exchange rate for Denmark and Norway, while demand shocks account for … most of the long-run variance in the real exchange rate for Finland and Sweden …
Persistent link: https://www.econbiz.de/10014069665
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Norway experienced a high immigration flow after the EEA directive in 2004 stating workers right to free movement within the European Union and EEA-countries. There is no clear consensus in the literature on how immigration affects native wages, but some studies using Norwegian micro data have...
Persistent link: https://www.econbiz.de/10012058700
Norway experienced a high immigration flow after the EEA directive in 2004 stating workers right to free movement within the European Union and EEA-countries. There is no clear consensus in the literature on how immigration affects native wages, but some studies using Norwegian micro data have...
Persistent link: https://www.econbiz.de/10012145539
Persistent link: https://www.econbiz.de/10011442545
Norway experienced a high immigration flow after the EEA directive in 2004 stating workers right to free movement within the European Union and EEA-countries. There is no clear consensus in the literature on how immigration affects native wages, but some studies using Norwegian micro data have...
Persistent link: https://www.econbiz.de/10011966811