Abstract D emonetization initiative by Govt. of India in Nov-Dec, 2016 aimed at addressing the issues like black money, hoarding and overall cleansing the monetary system. This paper in this regard attempts to empirically examine the impact of demonetization drive upon the monetary system by taking data of 180 days prior to Nov, 2016. The cointegration results exhibit show a long run ...

The main objective of this study is to determine the relationship between carbon dioxide emissions with other variables such as economic growth, energy consumption, population and gross capital formation in case Philippines set during period 1976 2014. This paper employs various econometric techniques: Augmented Dickey-Fuller unit root test, Johansen Cointegration Ordinary Least Squares (OLS) e...

This paper contributes to the monetary policy-economic growth debate by investigating whether policy stimulates economic in Nigeria. Using time series data from 1970 2018 and deploying autoregressive distributed lag (ARDL) model, bounds Bayer- Hanck (2013) cointegration tests, evidence main robustness checks show that (1) a significant long-run association exists, (2) percentage increase rate r...

The aim of this paper is to empirically investigate the determinants of tourism demand by utilizing panel data for the period of 1995-2011 from top 20 countries sending tourists to Turkey. Econometric results obtained from panel cointegration analysis show that macroeconomic factors as such income, prices, supply capacity, exchange rate and political stability play a significant role in determi...

This paper investigates the relationship between cigarette consumption per capita net disposable income, cigarette price index, and per capita expenditure for education. In this empirical analysis the Johansen cointegration test is applied in conjunction with the vector error correction model. Finally, the forecasting technique of cigarettes consumption in Greece using cointegration models is p...

We address the issue of panel cointegration testing in dependent panels, showing by simulations that tests based on the stationary bootstrap deliver good size and power performances even with small time and cross-section sample sizes and allowing for a break at a known date. They can thus be an empirically important alternative to asymptotic methods based on the estimation of common factors. Po...

The error correction model is generally thought to be isomorphic to integrated data and the modeling of cointegrated processes, and as such, is considered inappropriate for stationary data. Given that many political time series are not integrated, analysts are unable to take advantages of the error correction model’s ability to capture both long and short-term dynamics in a single statistical m...