The Generic Properties of Equilibrium Correction Mechanisms

Linear dynamic equilibrium correction mechanisms are shown to follow from the discretisation of continuous economic processes with steady-state solutions. In addition, the proposed procedure provides testable restrictions on the coefficients of the dynamic econometric model.

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Year of publication:	1999
Authors:	Bårdsen, Gunnar ; Hurn, Stan ; Lindsay, Kenneth
Publisher:	Oslo : Norges Bank
Subject:	equilibrium correction \| dynamic modelling \| difference schemes \| power series representations

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Series:	Arbeidsnotat ; 1999/8
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
ISBN:	82-7553-146-2
Other identifiers:	hdl:10419/209772 [Handle] hdl:11250/2500534 [Handle]
Classification:	C50 - Econometric Modeling. General
Source:	EconStor

Persistent link: https://ebvufind01.dmz1.zbw.eu/10012143561