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stationary
(redirected from Non-stationarity)

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The non-stationarity of the seasonally adjusted variables is taken into account by estimating the model in error-correction form (ECM), (6) according to the Engle-Granger representation theorem, which can be expressed for K explanatory variables as follows: [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII] (1) where [[epsilon].
Analysis of the price level series reveals non-stationarity for all variables while tests indicate a first-order stationarity, at the 0.
 
 
 
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