background : because of the rapid aging rate, the share of health expenditure in gross domestic product rises irreversibly and increases concern among politicians and the general public. the aim of this study was to examine the accuracy of the baumol’s model of unbalanced growth in iran over the period 1981-2010. methods : this theoretical-analytical study was conducted in 2012 to investigate t...

this paper investigate iranian tourism demand to malaysia using the recently developed autoregressive distributed lag (ardl) ‘bound test’ approach to cointegration for 2000:q1 to 2013:q4. the demand for tourism has been explained by macroeconomic variables, including income in iran, tourism prices in malaysia, tourism price substitute, travel cost and trade value between iran and malaysia. in a...

The present study investigates the cointegration relationships among crude oil price, domestic gold price and selected financial variables (exchange rates and stock price indices) in India. Increasing crude oil prices will increase the production costs which will affect cash flow and will decrease stock prices. Investors are showing fewer concerns in the stock markets and investing in yellow me...

Compared with previous research, the present work extends existing literature by considering long-run relations amongmajor international stock market indices, under different market conditions, and the implications of these relations on the implementation of statistical arbitrage strategies. The examined data contain two bust phases interrupted by a mild bullish period. Employing cointegration ...

For spatial data with a suffi ciently long time dimension, the concept of global cointegration has been recently included in the econometrics research agenda. Global cointegration arises when non-stationary time series are cointegrated both within and between spatial units. In this paper, we analyze the role of globally cointegrated variable relationships using German regional data (NUTS 1 leve...

Integration in the EU wheat and barley markets is studied using monthly price series for the 1980-1994 period. The methodology expands previous work on cointegration modeling by testing market integration constraints on the cointegration space; these tests are also supplemented with an evaluation of the short-run dynamics by testing for causality and calculating forecast-error variance decompos...

The main hypothesis of the paper states that banking loans to private individuals growth rate correlates with the personal consumption growth rate in Croatia. Following the Engle-Granger cointegration and Johansen cointegration approaches on yearly data samples from 1996 to 2012, we found banking loan to private individuals annual growth rate and personal consumption annual growth rate in Croat...

Health tourism is defined as travels to a country other than the of residence for continuation well-being people, improving health and in case illness, treatment, care rehabilitation. Tourism activity within scope has grown rapidly last decade, led countries take part sector this field with added value it provides economies. In study, relationship between economic growth was investigated by usi...

This paper investigates the relationship between the quarterly opinion poll lead of UK governments over the period 1955-1996, and a set of economic indicators. The hypothesis of a causal link between these variables is often debated, but there is a difficulty in testing the link by conventional econometric methods. These require either stationarity or the I(1) property, but there is strong evid...

This study employs the asymmetric threshold cointegration test suggested by Enders and Siklos (2001) and creates EC-EGARCH(1, 1)M model to investigate the pass-through of money market rate to banking retail rates in Taiwan and Hong Kong. It further explores the impact of interest volatility on interest rates. Over the period of February 1988 to December 2004, we find that the interest pass-thou...