the impact of price changes (at a level of market) on the other market levels (transfer of prices) will affect welfare of producers, marketing agents as well as consumers. in this study, asymmetric tea market is investigated through an application of johansen co-integration analysis and error correction model (ecm model) to time series of 1976-2009. co integration method used in the import mark...

In this paper we consider nonparametric estimation of transition probabilities for multi-state models. Specifically, we focus on the illness-death or disability model. The main novelty of the proposed estimators is that they do not rely on the Markov assumption, typically assumed to hold in a multi-state model. We investigate the asymptotic properties of the introduced estimators, such as their...

The level of capacity in a common-pool industry vis-à-vis a sustainable target level of yield simultaneously indicates the economic state of the industry, the success of its regulation, and the pressure on stocks. The main methods to assess capacity and its utilisation operate at the firm level, but neglect the industry capacity. In this contribution, the Johansen-Färe measure of plant capacity...

Recent studies on air-breathing fish have shown that different species are adapted in varying degrees for gaseous exchange in both water and air. In the lungfishes these differences are correlated with different degrees of development of the gills, the efficiency of the lung in gas exchange, and the respiratory properties of the blood (Lenfant, Johansen & Grigg, 1966; Johansen & Lenfant, 1967, ...

The basic aim of the study is to examine both the short run and long run relationship between fiscal deficit and economic growth in India by covering the time period from 1970-71 to 201112. Johansen Cointegration test, Granger Causality test, And Vector Error correction Model (VECM) technique are adopted in order to examine the objectives of this study. The Johansen methodology confirms the exi...

This paper documents the evidence for a fiscal model of the Yen/Dollar real exchange rate over the 1974-1994 period. Cointegrating relationships between the real exchange rate and productivity, government spending and the real price of oil are estimated using the Johansen (1988) and Stock-Watson (1993) procedures. The neoclassical fixed-factors fiscal model of Rogoff (1992) is found to have som...

at higher layers in our architecture. This means that a monitoring module is replicated at the lowest layer, but controlled at the synthesizing module level. If, for example, one replica of a monitoring module fails, the controlling function in the layer above might still obtain results from the other two replicas when a time-out occurs (Hartvigsen and Johansen, 1990a). A third motivation in ou...

in this paper, i investigated the determinants of financial development with emphasis on social capital. first, i explain the relationship between financial development and its determinants, then estimate the model with gregory–hansen (1996) and johansen-juselious cointegration techniques in i.r. of iran (1971-2006). the results showed that, inflation and decline in social capital and weak prop...