A small macroeconomic model is constructed starting from a German money demand relation for M3 based on quarterly, seasonally unadjusted data for the period from 1976 to 1996. In contrast to previous studies we build a vector error correction model for M3, GNP, an innation rate and an interest rate spread variable to represent opportunity costs of holding money. Furthermore, import price innati...

This note provides a proof of Granger's (1986) error correction model for fractionally cointegrated variables and points out a necessary assumption that has not been noted before. Moreover, a simpler, alternative error correction model is proposed which can be employed to estimate fractionally cointegrated systems in three steps. JEL Classification Code: C32

The current review article investigates some variables contributing to English language teaching and learning. Three factors of age, motivation and error correction have been of importance in English language curricula in language centres. Some studies have been conducted to investigate various effects of these three components on English language acquisition, those studies, however, may lack d...

In order to reduce errors, error correction codes (ECCs) need to be implemented fast. They can correct the errors corresponding to the first few orders in the Taylor expansion of the Hamiltonian of the interaction with the environment. If implemented fast enough, the zeroth order error predominates and the dominant effect is of error prevention by measurement (Zeno Effect) rather than correctio...