Rethinking Error Correction Model in Macroeconometric analysis: A Relevant Review
Journal Title: Journal of Economics, Finance and Management Studies - Year 2020, Vol 3, Issue 05
Abstract
The cointégration methodology has bridged the growing gap between economists and econometricians in understanding dynamics, equilibrium and bias on the reliability of macroeconomic and financial analysis, which is subject to nonstationary behavior. This paper proposes a comprehensive literature review on the relevance of the error correction model. Econometricians and economists have shown that error-correction model is a powerful machine that provides the economic system and macroeconomic policy with a refinement in the econometric results1.
Authors and Affiliations
Christian P. Pinshi
Keywords
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