Barrell, Ray; Holland, Dawn; Liadze, Iana; Pomerantz, Olga - 2007
gradually declines to zero in 1992Q4, the formal completion of the Single Market
Programme. EMU is a dummy variable which …
2
ATC
t-1
-α
3
ESM
t-1
-α
4
EMU
t-1
- α
5
CHINA
t-1
- α
6
log
(
TECHS
t-1
)]
+ β
1
∆log(S
t
) + β
2
∆log …:
∆log(MVOL
t
) = β
0
+χ[log(MVOL
t-1
) –α
1
log(TFE
t-1
)- α
2
log(RPM
t-1
)- α
3
ATC
t-1
- α
4
ESM
t-1
- α
5
EMU
t-1 …