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| Montserrat Ferré |
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| ''The Johansen Test and the Transitivity Property'' |
| ( 2004, Vol. 3 No.27 ) |
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| Sometimes two variables Y and Z are each cointegrated with another variable X, but Y and Z do not appear to be cointegrated with each other. This article provides a possible explanation why this might happen. |
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| Keywords: cointegration |
JEL: C1 - Econometric and Statistical Methods: General
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| Manuscript Received : Jul 22 2004 | | Manuscript Accepted : Jul 25 2004 |
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