In this paper we explore the usefulness of induced-order statistics in the characterization of integrated series and of cointegration relationships. We propose a non-parametric test statistic for testing the null hypothesis of two independent random walks against wide cointegrating alternatives including monotonic nonlinearities and certain types of level shifts in the cointegration relationshi...

In this paper we describe a method for testing the null of no cointegration in dynamic panels with multiple regressors and compute approximate critical values for these tests. Methods for non-stationary panels, including panel unit root and panel cointegration tests, have been gaining increased acceptance in recent empirical research. To date, however, tests for the null of no cointegration in ...

The purpose of our study is to identify the nature link between government spending and economic growth, in order test two theories Wagner Keynes, case Romania. On one hand, Keynes argues that public an important tool stimulate growth. other says increased a result We analyzed long-term dynamics time series through Johansen’s cointegration approach and, short term, with help Granger’s causality...