The Wald test for linear restrictions on cointegrating vectors is compared in nite samples using the Monte Carlo method. The Wald test within the vector error-correction based methods of Bewley et al. fully modiied ordinary least squares method of Phillips and Hansen (1990), and the band spectral techniques of Phillips (1991) are considered. In terms of test size, Jo-hansen's method seems to be...

The motivation of the study was to gauge impact environmental quality (EQ), good governance (GG), and globalization (GLO) on tourism development in BRIC nations for period 1990–2021. implements linear nonlinear frameworks evaluating elasticity explanatory variables directional association by using non-granger causality test. Combined cointegration test statistics show a long-run between EQ, GG,...

Some of the problems cash transactions were inconvenience handling and limited availability banking services to facilitate withdrawals. The purpose this paper is examine impact cashless payments on usage internet mobile in twofolds. First, Wald test was applied determine short-run causal effect diffusion from payment banking. Second, autoregressive distributed lag (ARDL) bounds employed long-ru...

introduction air pollution is one of the critical challenges in metropolitans around the world. according to world health organization (who), three millions people die from air pollution annually. in some studies mortality costs by air pollution was estimated. social cost of air pollution was estimated 28990 billions rials in tehran city. the mortality cost by air pollution was estimated about ...

This study investigates the asymmetric cointegration and causal relationships between economic growth, carbon emissions, energy consumption in next eleven (11) countries over period 1972–2013. The nonlinear autoregressive distributed lag (NARDL) bounds testing approach nonpragmatic Granger causality tests are employed. research’s empirical results have entrenched vital that significant policy i...

This study examines the Granger causality between electricity consumption and Gross Domestic Product (GDP) for Pakistan using annual data covering the period 1971 to 2007. Augmented Dickey-Fuller test and Phillips-Perron test reveal that both the series, after logarithmic transformation, are non-stationary and individually integrated at order one. Engle and Granger Cointegration test exhibits t...

Randomized block factorial experiments are widely used in industrial engineering, clinical trials, and social science. Researchers often use a linear model analysis of covariance to analyze experimental results; however, limited studies have addressed the validity robustness resulting inferences because assumptions for might not be justified by randomization randomized experiments. In this arti...

The present study investigates the efficiency of Bitcoin futures in price discovery process by assessing lead-lag relationship between and spot prices Bitcoin. tests whether market is leading mechanism for market. considers daily closing both future indices from December 12, 2017 to 31, 2020. stationarity two time-series variables tested using Augmented Dickey-Fuller test while long-run co-inte...

The study tries to investigate the cointegration and causality relationship between spot future prices of crude oil natural gas traded on Multi Commodity Exchange (MCX) India. has used daily closing commodities under from period 2005 2020. data is converted into stationary time series which a mandatory condition for analysis. results Johansen Co-integration test reveals that there long-run both...