Granger causality test the panel cointegration analysis is needed. The panel cointegration relationships were not found in any …

. The models used include Granger causality, cointegration, and error-correction models. The results demonstrate that the … deviations from the parity. As this error-correction mechanism appears to be rather symmetric, and as the Granger causality tests … suggest different causality patterns for individual stocks, none of the two markets emerges as the dominant one. A variety of …

may have important stability implications. We choose a more general approach and consider the choice not only between … a particular step length is stable or not and some implications about the stability of the same system with different … step lengths. As a special case we get a relationship between stability of a discrete model and the corresponding …