This paper re-examines the dynamic casual nexus among real manufacturing wage rate, labour productivity and real GDP growth. Data from 1987 Q1 through 2011 Q2 are utilised by implementing the fairly standard cointegration methodology in a trivariate setting. All three variables are...

This paper re-examines the issues of integration and causality in US mortgage and T-bond markets by using the well-known cointegration and error correction methodology. It employs monthly data from January 1980 through June 1993. The unit root test reveals nonstationarity in 30-year nominal...

The primary purpose of this paper is to explore the long-run association among growths in US housing starts, real consumer debt, real GDP and the long-term real interest rate. To carry out this exploratory work, Johansen and Juselius (1990) vector cointegration procedure is applied. Monthly data...