1990s using recently developed econometric techniques for tests of cointegration. The role of investment, education and …

existing tests of no cointegration and parameter constancy. Smooth transition regressions are chosen to describe the … nonlinearity and the Johansen cointegration test and the Lin and Teräsvirta parameter constancy test are applied. It turns out that … power when dealing with unrestricted cointegration, that is, when no cointegrating vector is estimated and the cointegrated …

-integrating vectors. These cointegration vectors are both rejected for the sample period, indicating that the public sector will not be …

different industries. The cointegration analysis indicates two cointegrating relations, in all industries, between import prices …