| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 5054841 | Economic Modelling | 2013 | 7 Pages |
Abstract
⺠A modification of the error correction model (ECM) is proposed. ⺠Not only the deviation from steady-state of the most recent period is considered. ⺠Deviations of the past are cumulated by geometrically decreasing weights. ⺠The model nests the traditional ECM as well as the multi-cointegration approach. ⺠As an empirical application the short-run dynamics of US consumption are modelled.
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Authors
Marcus Scheiblecker,