In this paper we derive (weak) consistency and the asymptotic distribution of pseudo maximum likelihood estimates for multiple frequency I(1) processes. By multiple frequency I(1) processes we denote processes with unit roots at arbitrary points on the unit circle with the integration orders corresponding to these unit roots all equal to 1. The parameters corresponding to the cointegrating spac...

This paper studies the validity of the long-run purchasing parity hypothesis. The five currencies of interest in this study are the U.S. dollar, the U.K. pound sterling, the German mark, the French franc, and the Japanese yen. I attempt two approaches to test the long-run PPP hypothesis. First, I test for unit roots of the real exchange rates themselves. Second, I examine the cointegration rela...

Abstract: This paper adopts a different approach to the study of the persistence of U.S. GNP. First, this paper uses a more powerful version of the ADF test developed by Elliot, Rothenberg and Stock (1992). Second, we also examine the results from a unit root test that has trend stationarity as the null (Kwiatkowski et al., 1992). Third, simulated critical values generated from plausible trend ...

Johansen derived the asymptotic theory for his cointegration rank test statisic for a vector autoregression where the parameters are restricted so the process is integrated of order one. It is investigated to what extent these parameter restrictions are binding. The eigenvalues of Johansen's eigenvalue problem are shown to have the same consistency rates accross the parameter space. The test st...

We present a test of the null hypothesis of stationarity against unit root alternatives for panel data that allows for arbitrary cross-sectional dependence. We treat the short run time series dynamics non-parametrically and thus avoid the need to fit separate models for the individual series. The statistic is simple to compute and is asymptotically normally distributed, even in the presence of ...

the effects of formalin as a peripheral noxious stimulus on the activity of lateral paragigantocellularis nucleus (lpgi) neurons were examined. spontaneous activity oflpgi neurons was recorded after confirmation of their responsiveness to acute pain, and thereafter formalin (50 µl, 2.5%) was injected in the contralateral hindpaw. the response of the lpgi neurons was monitored for 60 min. a biph...

introduction: although formalin-induced activity in primary afferent fibers and spinal dorsal ‎horn is well described, the midbrain neural basis underlying each phase of behavior in ‎formalin test has not been clarified. the present study was designed to investigate the nucleus ‎cuneiformis (cnf)‎‏ ‏neuronal responses during two phases after subcutaneous injection of ‎formalin into the hind paw...

an air filter is a significant element of any mechanical ventilation system. however, the importance and performance evaluation of air filters have not been well publicized and related scientific reports are scarce. in this study, a transportable, off-line, air filter-testing unit (the unit) was designed and utilized to simulate the filter housing of a mechanical ventilation system. the unit wa...