Content deleted Content added
Duplicate word deletion. |
Inserted full stop at end of paragraph. |
||
Line 34:
* The cointegration test on <math>\alpha </math> does not follow a standard distribution
* The validity of the long-run parameters in the first regression stage where one obtains the residuals cannot be verified because the distribution of the OLS estimator of the cointegrating vector is highly complicated and non-normal
* At most one cointegrating relationship can be examined.
===VECM===
| |||