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The Power of Single Equation Tests for Cointegration when the Cointegrating Vector is Prespecified.
Zivot, Eric - EconWPA - 1996
's (1992) conditional ECM- based t-test for no-cointegration with a single prespecified cointegrating vector. This alternative …-test with a prespecified cointegrating vector can have much higher power than single equation tests for cointegration based on …
Persistent link: https://www.econbiz.de/10005407947
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Revisitando a sustentabilidade do endividamento público no Brasil
de Mendonça, Mário Jorge Cardoso; Moreira, Tito … - 2016
and gross displays a sensible reduction. We apply three different cointegration tests in the series of government revenue … debt is long-term solvent. Finally, based on the dynamic factor model one forecasts the revenues and expenditures of the …
Persistent link: https://www.econbiz.de/10011516700
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Revisitando a sustentabilidade do endividamento público no Brasil
Mendonça, Mário Jorge Cardoso de; Moreira, Tito … - 2016
and gross displays a sensible reduction. We apply three different cointegration tests in the series of government revenue … debt is long-term solvent. Finally, based on the dynamic factor model one forecasts the revenues and expenditures of the …
Persistent link: https://www.econbiz.de/10011483693
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Empirical Examination of the Link between Value Added Tax and Total Tax Revenues in Zimbabwe
Bonga, Wellington Garikai - 2017
Governments in most developing nations heavily rely on tax revenue to sponsor government expenditure, and Zimbabwe is not an exception. Tax revenue is supposed to be used to grow or develop an economy. This study seeks to analyse the relationship between value-added tax (VAT) and total tax...
Persistent link: https://www.econbiz.de/10012949557
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Did US consumers 'save for a rainy day' before the Great Recession?
Anundsen, André Kallåk; Nymoen, Ragnar - 2015
The 'saving for a rainy day' hypothesis implies that households' saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions of fiscal policy multipliers and it holds under the null that the...
Persistent link: https://www.econbiz.de/10010518800
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Composition effects of government expenditure on private consumption and output growth in Nigeria : a single-equation error correction modelling
Dada, Matthew Abiodun - In: Romanian journal of fiscal policy : RJFP 4 (2013) 2, pp. 18-34
Nigeria using the framework of single equation error correction mechanism. The unit root and cointegration tests were …
Persistent link: https://www.econbiz.de/10010480256
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The demand for euro banknotes issued in Germany : structural modelling and forecasting
Bartzsch, Nikolaus; Seitz, Franz; Setzer, Ralph - 2015
This paper explains and forecasts the demand for banknotes issued in Germany. For small and large denomination notes we …
Persistent link: https://www.econbiz.de/10011334993
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Does the Absence of Cointegration Explain the Typical Findings in Long Horizon Regression?
van Dijk, D.; Berben, R.P. - Econometrisch Instituut, Faculteit der Economische … - 1998
assume the existence of cointegration between the variables involved. In this paper, we investigate the consequences of … interpret the test for long horizon predictability as a single equation test for cointegration. …
Persistent link: https://www.econbiz.de/10005625244
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Did US consumers 'save for a rainy day' before the Great Recession?
Anundsen, Andre K.; Nymore, Ragnar - 2015
The 'saving for a rainy day' hypothesis implies that households' saving decisions reflect that they can (rationally) predict future income declines. The empirical relevance of this hypothesis plays a key role in discussions of fiscal policy multipliers and it holds under the null that the...
Persistent link: https://www.econbiz.de/10011335600
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Structural Change in Fiscal Policy and The Permanence of Fiscal Contractions - The Case of Denmark and Ireland
Hjelm, Göran; Johansson, Martin W - 2002
Instead of relying on descriptive statistics to evaluate the permanence of a fiscal contraction, this paper suggests that this issue should be studied using tests for structural breaks in cointegrating relationships between taxes and spending. We label a fiscal contraction as 'permanent' if a...
Persistent link: https://www.econbiz.de/10013208434