Support for Governments and Leaders: Fractional Cointegration Analysis of Poll Evidence from the UK, 1960-2004
نویسنده
چکیده
Two versions of a fractionally cointegrating vector error correction model (FVECM) are presented. In the case of regular cointegration, linear combinations of fractionally integrated variables are integrated to lower order. Generalized cointegration is de ned as the case where the cointegrating variables may be fractional di¤erences of the observed series. The concepts are applied to a model of poll data on approval of the performance of prime ministers and governments in the UK.
منابع مشابه
Testing for Fractional Cointegration: the Relationship between Government Popularity and Economic Performance in the UK
This paper investigates the relationship between the quarterly opinion poll lead of UK governments over the period 1955-1996, and a set of economic indicators. The hypothesis of a causal link between these variables is often debated, but there is a difficulty in testing the link by conventional econometric methods. These require either stationarity or the I(1) property, but there is strong evid...
متن کاملDeterminants of Healthcare Expenditure in Economic Cooperation Organization (ECO) Countries: Evidence from Panel Cointegration Tests
Background Over the last decade there has been an increase in healthcare expenditures while at the same time the inequity in distribution of resources has grown. These two issues have urged the researchers to review the determinants of healthcare expenditures. In this study, we surveyed the determinants of health expenditures in Economic Cooperation Organization (ECO) countries. Methods We us...
متن کاملWe Need Compassionate Leadership Management Based on Evidence to Defeat COVID-19
The current pandemic of coronavirus disease 2019 (COVID-19) has had unprecedented reach and shown the need for strong, compassionate and evidence-based decisions to effectively stop the spread of the disease and save lives. While aggressive in its response, Rwanda prioritized the lives of its people – a human right that some governments forget to focus on. The country t...
متن کاملLong-Run and Short-Run Causality between Stock Price and Gold Price: Evidence of VECM Analysis from India
The prime objective of the study is to identify the long-run and short-run relationship between Indian stock price viz., BSE SENSEX (hereafter named as BSE) and gold price (GOLD) in India. The daily closing price data were collected for the period of ten years ranging from 1st April 2004 to 31st March 2014 with 2490 observations. The study employed two models: Model one us...
متن کاملThe Effects of Interest Rates Volatility on Stock Returns: Evidence from Bangladesh
The paper investigates the effects of interest rates on stock market performance by using monthly time series data for the economy of Bangladesh over the period of 1991 to 2012. A wide range of econometric techniques have been employed to analyze the relationship between the interest rate and stock market return. The study reveals a stable and significant long run relationship between the varia...
متن کامل