Dependence in macroeconomic variables: Assessing instantaneous and persistent relations between and within time series

The present thesis comprises two rather independent chapters. In general, the diagnosis and quantification of dependence is a major aim of econometric studies. Along these lines, the concept of dependence serves as an encompassing framework to analyze time series with two very different techniques. First, we consider a single macroeconomic time series. A series which incorporates only temporary deviations from deterministic terms provides a different starting point for economic interpretations than an ‘unpredictable’ (random) series. In the context of dependency, we are interested if a time se...