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Volume 37, Issue 1, March 1998 >
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| Title: | ECONOMETRIC METHODOLOGY II : STRENGTHENING TIME SERIES ANALYSIS |
| Authors: | Townsend, Rob F. |
| Issue Date: | 1998-03 |
| Abstract: | This article reviews some of the recent methodology developed for the analysis of time series
data stressing that the statistical properties of the individual series need to be analysed to avoid
spurious regressions. A convergence of econometric methodology is entertained with specific
focus on cointegration and error correction models which allows the testing of long run
relationships between variables and allows for a more dynamic structure than some of the
previous models that appear in the literature. An example of this is the commonly used partial
adjustment model in supply analysis which is nested in the less restrictive error correction
model. Tests can be performed on the validity of these restrictions. These models have a wide
application in agricultural economic analysis. |
| URI: | http://purl.umn.edu/54908 |
| Institution/Association: | Agrekon>Volume 37, Issue 1, March 1998 |
| Total Pages: | 17 |
| From Page: | 83 |
| To Page: | 99 |
| Collections: | Volume 37, Issue 1, March 1998
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| 04 Townsen - Maart 1998.pdf | | 152Kb | PDF | View/Open |
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