This paper focuses on replication in the sense of Herrnson (1995). It reexamines the only study of an Irish popularity function (Borooah and Borooah, 1990) in the light of recent developments in econometric methodology and in Irish politics. Using error correction models the analysis provides an alternative account of the relationship between economics and government popularity to that provided...

In the present paper, it is studied the price relations and how price is transmitted between the producer level and the consumer level for lamb meat. Data used in the research include consumer price index and producer price index for lamb meat covering monthly periods of 91 months since March 2001 through September 2008. Johansen's and Juselius's cointegration method and Granger causality test ...

This paper considers nonlinear dynamics of quotes issued by Nasdaq dealers. We study the top two ECN’s (Island and Instinet) and the three most active market makers for a sample of twenty stocks traded at Nasdaq. We develop a model that extends the standard linear vector error correction model for price discovery in three different ways. First, quote adjustments are set relative to the inside q...

This paper uses cointegration and error-correction models to analyze the causal relationship between export growth and economic growth in eight Asian developing countries using annual data from 1960 to 1997. While conventional wisdom suggests that export growth contribute positively to economic growth, this study also provides strong evidence supporting the export-led growth hypothesis. The emp...

Systems of forward-looking linear decision rules can be formulated as vector \rational" error correction models. The closed-form solution of the restricted error corrections is derived, and a full-information estimator is suggested. The error correction format indicates that the assumptions of convex adjustment costs and rational expectations impose di erent types of a priori restrictions on th...

abstract this study investigates casual relationship between co2 emission and gross domestic product per capita in five different country groups, using cross- country data for the period 1960-2007. to achieve the purpose, the co- integration test and error correction models are applied. results confirm casual relationships between the two variables. a unilateral relationship between gdp and co2...

abstract exchange rate volatility is one of the effective and ambiguous factors in agricultural products export. regarding the importance of agricultural trade, to avoid single-product economy, the main aim of this study is to investigate the impact of exchange rate volatility on the pistachio export of iran during 1338-1386. for this purpose, exchange rate volatility index was estimated using ...

This article addresses the impact of exchange rate volatility on U.S. exports of four forest commodities. Exchange rate volatility is measured by the standard deviation of the growth rate of real effective exchange rate of the U.S. dollar. The nonstationarity of individual time series is explicitly taken into account by employing multivariate cointegration analysis and error correction models. ...

In the present study, individual groups of construction companies were first classified according to size, and then the processes of changes needed for them to become insolvent were examined utilizing KMV models. Another objective of the present study was to analyze the relationship between macroeconomic fluctuations and the changes needed for construction companies to become insolvent (based o...

This paper investigates the relationship between financial development and economic growth for UK for the period 1965-2007 using a vector error correction model (VECM). The purpose of this paper is to examine the long-run relationship between these variables applying the Johansen cointegration analysis. Granger causality tests indicated that there is a causal relationship between financial deve...