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Abstract

I discuss econometric issues of high relevance to economists in central banks whose job is to interpret the permanency of shocks and provide policy advice to policymakers. Trend, unit root, and persistence are difficult to interpret. There are numerous econometric tests, which vary in their power and usefulness. I provide a set of strategies on dealing with macro time series.



Item Type: MPRA Paper -

Institution: Department of Labour-

Original Title: A Perspective on Unit Root and Cointegration in Applied Macroeconomics-

Language: English-

Keywords: Unit root; trend; persistence; cointegration-

Subjects: F - International Economics > F4 - Macroeconomic Aspects of International Trade and FinanceC - Mathematical and Quantitative Methods > C2 - Single Equation Models ; Single Variables > C22 - Time-Series Models ; Dynamic Quantile Regressions ; Dynamic Treatment Effect Models ; Diffusion ProcessesC - Mathematical and Quantitative Methods > C1 - Econometric and Statistical Methods and Methodology: General > C13 - Estimation: General-





Autor: Razzak, Weshah

Fuente: https://mpra.ub.uni-muenchen.de/1970/







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