Systems of forward-looking linear decision rules can be formulated as vector \rational" error correction models. The closed-form solution of the restricted error corrections is derived, and a full-information estimator is suggested. The error correction format indicates that the assumptions of convex adjustment costs and rational expectations impose di erent types of a priori restrictions on th...

This paper analyzes the effect of public spending on Chilean economy by analyzing quarterly data for period 1990-2018. GDP and expenditure among other macroeconomic variables have been used to estimate a VEC (Vector Error Correction) model. The main objective is investigate an important component spending, such as Government transfers, their impact economic growth. Results show bidirectional ca...

The purpose of this paper is to investigate how well contemporary exchange rate theories explain fluctuations in rates emerging economies, before and after the Global Financial Crisis (GFC). As an example, EUR/PLN 1999–2015 was selected as currency pair that most liquid region; it had a stable regime given period. whole analysis performed within linear vector error correction (VEC) model framew...

Recently, a significant share of the empirical analysis on the impact of public capital on regional growth has used multivariate time-series frameworks based on vector auto regressive (VAR) models. Nevertheless, not as much attention has been dedicated to the analysis of the long-run determinants of regional growth processes using multi-region panel data and applying panel integration and co-in...

among the food products, grains play an important role in the consumption patterns of people, especially in the developing countries. since iran's main source of public dietary energy comes directly from grains, investigating and identifying the determinants of import of these products can be an important step towards food security. most experimental studies consider import of grains as only a ...

this study aims to evaluate the link between economic growth and consumer price index (cpi) in japan for the period of 1980-2014. initial series were adjusted for stationarity using the augmented dickey- fuller (adf) test for unit root followed by the application of johansen co-integration test in order to examine the long-run relationship among the variables, while the causalities were evaluat...

With the increase in the complexity of digital VLSI circuit design, logic design errors can occur during synthesis. In this work, we present a test vector simulation based approach for multiple design error diagnosis and correction. Diagnosis is performed through an implicit enumeration of the erroneous lines in an effort to avoid the exponential explosion of the error space as the number of er...

In recent years, food security, especially supply, has been an important issue in China’s agricultural production. The stability of grain prices is related to the stability and development of the grain market. Based on agricultural production data from 1970 to 2015, this paper explores the influence of agricultural product price fluctuation on grain production by using the cobweb theory and vec...