imposed if accepted. Alternatively, if one has less confidence in the short-run theory the dynamics can be left unrestricted … equilibrium values of the variables reflecting the long-run theory embodied in the model can be calculated. This approach has been …

-run output equation with a coefficient equal to the share of capital (α). The long-run theory is tested using quarterly data on … results support the long-run theory. The existence of long-run relations between real output, foreign output and real oil … steadily over the past three decades, the theory suggests that the effect of oil income on the economy's steady state growth …