SHERP

Measuring the Length of Period for the Long-Run Equilibrium in a Cointegration Relation

Cited 0 time in webofscience Cited 0 time in scopus
Authors
Kim, JaeYoung
Issue Date
2003
Publisher
Seoul Journal of Economics
Citation
Seoul Journal of Economics 16 (No. 1 2003): 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
URI
http://hdl.handle.net/10371/1293
Files in This Item:
Appears in Collections:
College of Social Sciences (사회과학대학)Institute of Economics Research (경제연구소)Seoul Journal of EconomicsSeoul Journal of Economics vol.16(1) (Spring 2003)
  • mendeley

Items in S-Space are protected by copyright, with all rights reserved, unless otherwise indicated.

Browse