Right-tailed unit root tests have proved promising for detecting exuberance in economic and Önancial activities. Like left-tailed tests, the limit theory and test performance are sensitive to the null hypothesis and the model speciÖcation used in parameter estimation. This paper aims to...

The purpose of this study is to empirically re-investigate the money-prices nexus for Malaysia through the cointegration and causality techniques. This study covered the monthly data from 1971:01 to 2008:03. The Johansen cointegration test suggests that the variables are cointegrated....

Right-tailed unit root tests have proved promising for detecting exuberance in economic and financial activities. Like left-tailed tests, the limit theory and test performance are sensitive to the null hypothesis and the model specification used in parameter estimation. This paper aims to...