Topic
Cointegration
About: Cointegration is a research topic. Over the lifetime, 17130 publications have been published within this topic receiving 506215 citations.
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TL;DR: In this paper, the authors investigated the contribution of tourism to economic growth in Lebanon for the time period of 1995-2010, applying the bounds testing approach to cointegration and Granger causality tests.
Abstract: This paper investigates the contribution of tourism to economic growth in Lebanon for the time period of 1995–2010. The presence of long-run and causal relationships is investigated applying the bounds testing approach to cointegration and Granger causality tests. Because of the small sample (T = 16), econometric approaches and critical values used for testing receive special attention. Additionally, a number of diagnostic tests are utilised to ensure that the model is suitable and correct. Interestingly, our results reveal that tourism and economic growth are cointegrated. The Granger causality test indicates that the tourism-led growth hypothesis is valid for Lebanon. Therefore, policy initiatives promoting tourism ought to be further developed and implemented to stimulate economic growth and development for the economy of Lebanon.
140 citations
TL;DR: In this paper, the authors investigated the relationship between carbon emissions, income, energy and total employment in selected OPEC countries for the period of 1971-2002, and they mainly focused on the link between energy use and income.
140 citations
TL;DR: The authors examines several central issues in the empirical modeling of money demand, including economic theory, data measurement, parameter constancy, the opportunity cost of holding money, cointegration, model specification, exogeneity, and inferences for policy.
Abstract: This paper examines several central issues in the empirical modeling of money demand. These issues include economic theory, data measurement, parameter constancy, the opportunity cost of holding money, cointegration, model specification, exogeneity, and inferences for policy. Review of these issues at a general level is paralleled by discussion of specific empirical applications, including some new results on the demand for narrow money in the United Kingdom.
139 citations
TL;DR: Cointegration and Granger-causality tests show that real exports and real GDP in Mexico over 1895-1992 were cointegrated and there was a significant and positive Granger causality relationship running from exports to economic growth as mentioned in this paper.
139 citations
Book•
13 Jan 1996TL;DR: Gourieroux and Monfort as discussed by the authors provide an up-to-date and comprehensive analysis of modern time series econometrics, including causality, exogeneity shocks, multipliers, cointegration and fractionally integrated models.
Abstract: In this book Christian Gourieroux and Alain Monfort provide an up-to-date and comprehensive analysis of modern time series econometrics. They have succeeded in synthesising in an organised and integrated way a broad and diverse literature. While the book does not assume a deep knowledge of economics, one of its most attractive features is the close attention it pays to economic models and phenomena throughout. The coverage represents a major reference tool for graduate students, researchers and applied economists. The book is divided into four sections. Section one gives a detailed treatment of classical seasonal adjustment or smoothing methods. Section two provides a thorough coverage of various mathematical tools. Section three is the heart of the book, and is devoted to a range of important topics including causality, exogeneity shocks, multipliers, cointegration and fractionally integrated models. The final section describes the main contribution of filtering and smoothing theory to time series econometric problems.
139 citations