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generalized method of moment (GMM) approaches. Through series of iterative processes, it was observed that it will take four years … exchange rate regime. The GMM estimate reveals that real exchange rate misalignment has negative but significant impact on …
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We propose in this paper a likelihood-based framework forcointegration analysis in panels of a fixed number of vector errorcorrection models. Maximum likelihood estimators of thecointegrating vectors are constructed using iterated GeneralizedMethod of Moments estimators. Using these estimators...
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applied by taking the first difference of the defined parameters. Furthermore, the Generalized Method of Moments (GMM) is used …
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