Publications
Detailed Information
Measuring the Length of Period for the Long-Run Equilibrium in a Cointegration Relation
Cited 0 time in
Web of Science
Cited 0 time in Scopus
- Authors
- Issue Date
- 2003-01
- Citation
- Seoul Journal of Economics, Vol.16 No.1, pp. 71-80
- Keywords
- long run equilibrium ; cointegration ; consumption-income relation
- Abstract
- In economics the period of "long-run" often signifies the length of time within which transient fluctuations disappear, and a system comes back to an equilibrium state (or path). Among some interesting cases of long run analysis, the concept of cointegration is a relatively new concept of the long run equilibrium. This paper discusses how to determine the length of the long-run period for a cointegration relation. In an application to a consumption-income relation for three countries. U.S., Germany and Japan, we found that the length of the long-run period for the relation for these countries is about two to three years.
- ISSN
- 1225-0279
- Language
- English
- Files in This Item:
Item View & Download Count
Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.